Crompton Greaves Consumer Electricals Limited (NSEI:CROMPTON) made an offer to acquire 26% stake in Butterfly Gandhimathi Appliances Limited (BSE:517421) for INR 6.7 billion on February 22, 2022. In related transaction, Crompton Greaves Consumer Electricals Limited entered into a share purchase agreement to acquire 55% stake in Butterfly Gandhimathi Appliances Limited from a group of shareholders for INR 13.8 billion on February 22, 2022. The transaction is expected to be financed through a mix of internal accruals and debt. Committee of Independent Directors of Butterfly Gandhimathi Appliances Limited published its recommendation that the offer fair and reasonable. The transaction is expected to complete on June 3, 2022. Kotak Mahindra Capital Company Limited acted as financial advisor, KFin Technologies Limited acted as registrar and Sudhir Bassi, Aravind Venugopal, Arindam Ghosh, Arva Merchant, Shailendra Bhandare, Vinay Joy and Anisha Chand Khaitan & Co. acted as legal advisor to Crompton Greaves Consumer Electricals Limited. PricewaterhouseCoopers acted as financial, tax & operations due diligence provider, financial advisor and accountant to Crompton Greaves Consumer Electricals Limited.

Crompton Greaves Consumer Electricals Limited (NSEI:CROMPTON) completed the acquisition of 26% stake in Butterfly Gandhimathi Appliances Limited (BSE:517421) on June 3, 2022.