Crompton Greaves Consumer Electricals (Crompton) has signed definitive agreements on February 22, 2022 with certain members of the promoter group of Butterfly Gandhimathi Appliances (Butterfly) to acquire upto 55% stake at Rs 1,403.00 per equity share, aggregating upto Rs 1,379.68 crore, and certain Butterfly trademarks in allied and cognate classes from promoter group entities (Trademarks) for a consideration of Rs 30.38 crore.
The company will launch the mandatory open offer to the public shareholders of Butterfly, for acquiring upto 26% stake in Butterfly at a price of Rs 1,433.90 per equity share, aggregating upto Rs 666.57 crore; for an aggregate total consideration of upto Rs 2,076.63 crore. The transaction will accelerate Crompton's long-term strategic goal of becoming a leading player in the small domestic appliances segment.
Crompton Greaves Consumer Electricals manufactures and markets a wide spectrum of consumer products ranging from fans, light sources and luminaires, pumps and household appliances, such as geysers, mixer grinders, toasters and irons.
| Company Name | CMP |
|---|---|
| Crompt.Greaves Cons. | 293.35 |
| Whirlpool Of India | 955.90 |
| Bajaj Electricals | 406.70 |
| Orient Electric | 189.35 |
| TTK Prestige | 519.35 |
| View more.. | |
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