Sheela Foam has completed the acquisition of 2.57% of the share capital of Kurlon Enterprise (KEL) for an aggregate consideration of approximately Rs 55.33 crore. Sheela Foam now holds 97.23% of the share capital of KEL.
Earlier, the company had completed the acquisition of 94.66% of the share capital of KEL for an aggregate consideration of approximately Rs 2035 crore, subject to customary post-closing adjustments, including for net working capital, debt and surplus cash.
Sheela Foam is a leading manufacturer of mattresses in India marketed under its flagship brand “Sleepwell”.
