Havells India is reportedly planning to sell its majority stake in European lighting systems and fixtures company Sylvania, which it acquired in 2007 and became a global player. The deal would be structured in two phases. In the first phase, the company would divest its majority stake with management control to the strategic investors. It will sell the residual stake in 3-5 years, depending on multiple factors.
Havells, which posted net revenue of Rs 8,570 crore in FY15, acquired Sylvania for an enterprise value of 227 million pound, including debt, in 2007 and had invested 80 million pound as equity.
Havells India is a leading FMEG Company with a strong global footprint. It enjoys enviable market dominance across a wide spectrum of products, including Industrial & Domestic Circuit Protection Devices, Cables & Wires, Motors, Pumps, Fans, Modular Switches, Home Appliances, Electric Water Heaters, Power Capacitors, CFL Lamps etc.
