Mumbai-Reliance Industries Ltd. (RIL) has signed definitive agreements to acquire the polyester business of Shubhalakshmi Polyesters Ltd. (SPL) and Shubhlaxmi Polytex Ltd. (SPTex) for a cash consideration of Rs 1,522 crore and Rs 70 crore, respectively, according to local news reports. The transaction is subject to approval of the Competition Commission of India, and the respective lenders of SPL and SPTex. No other details were available.
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