Reliance Industries RIL): RIL said that its wholly owned subsidiary Reliance Petroleum Retail has executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters (SPL) and Shubhlaxmi Polytex (SPTex). Reliance Petroleum Retail (under name change to 'Reliance Polyester') will be acquiring polyester business of SPL and SPTex for cash consideration of Rs 1,522 crore and Rs 70 crore, respectively, aggregating to Rs 1,592 crore by way of slump sale on a going concern basis.
