RIL buys Malaysian polyester maker Hualon

 E&Y had invited bids for the family-run company, which has turnover of nearly Rs 3,200 crore, nine months ago.

This is RIL's second overseas acquisition in the textiles industry. The first purchase was Trevira, a polyester manufacturer in Germany, for about Rs 440 crore three years ago.

A RIL spokesperson declined to reveal the deal size of the latest buy.

The acquisition will help RIL consolidate its position as the world