Eveready Industries India (EIIL), the BM Khaitan Group flagship company, is buying out
The Khaitans have entered into a term sheet agreement with Paris-based CG Holding on Thursday to acquire a controlling bloc of some 80% in Uniross. CG Holding is the parent company of Uniross. As per the agreement, Uniross will issue fresh company shares in favour of EIIL and help the latter buy at least 80% in Uniross. Post-issuance of shares, CG Holdings’ stake in Uniross will get diluted to 20% from the existing 65% holding.
The deal will, however, be subject to compliance with legal, accounting, commercial, tax and other due diligence of Uniross and its subsidiary or group companies, receipt of all necessary regulatory approvals as well as finalisation and execution of the definitive legal and binding agreements, including shareholders agreements.
crackcrackCompany Name | CMP |
---|---|
Exide Inds | 444.60 |
Amara Raja Energy | 1132.75 |
HBL Power Sys | 466.85 |
Eveready Inds. India | 352.00 |
Indo-National | 666.55 |
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