Crompton to acquire 55Percentage stake in Buttefly

1 Mar 2022 , 01:33 AM

Crompton Greaves Consumer Electricals has signed definitive agreements on 22 February 2022 to a acquire upto 55Percentage stake in Butterfly a company engaged in the manufacturing marketing and distribution of kitchen and small domestic appliances SDA at a price of Rs 140300 per equity share and b Trademarks for a consideration of Rs 3038 crore The company will also launch the mandatory open offer to the public shareholders of Butterfly for the acquisition of up to 26Percentage stake at a price of Rs 143390 per equity share The transaction will be subject to completion of customary closing conditions The transaction is expected to be financed through a mix of internal accruals and debt