Crompton Greaves Consumers acquires 55 per cent stake in Butterfly Gandhimati
Crompton Greaves Consumer Electricals has bought 55 per cent stake in Butterfly Gandhimati at a rate of Rs 1403 per share completing the long-awaited acquisition deal. Zee Business’ Devanshi Ashar explains the impact of this Rs 1380 crore deal for CG Consumer Electricals.
Crompton Greaves Consumer Electricals has bought 55 per cent stake in Butterfly Gandhimati at a rate of Rs 1403 per share completing the long-awaited acquisition deal. Zee Business’ Devanshi Ashar explains the impact of this Rs 1380 crore deal for CG Consumer Electricals.
Asher said that CG Consumers emerged as the winner among many contenders for the stake buy. It was completed after lingering for a long time.
Now that they have purchased a 55 per cent stake in Butterfly, the mandatory open offer is likely to follow suit and will be paying a premium for the deal. The open offer will be brought t Rs 1434 per share. In all the company will be shelling out Rs 2076 cr for buying 81 per cent share in Butterfly.
The valuations are now at good levels, and the synergy is going to be beneficial for CG Consumers. After the deal, CG Consumers have bought lands and trademarks. The company aims to become a leader in the small appliance business.
The synergy benefits seem great in the Southern parts of the country, with an increase in distribution. The 5 per cent of overall Butterfly Gandhimati sales can prove to be beneficial for CG Consumers synergically.
CG Consumer’s earnings will reflect the benefits in FY24. The company will have two brands under its umbrella.
The deal is going to be positive for CG Deals.
For more details, Watch Full Video Here:-
CG कंज्यूमर की बड़ी डील!
बटरफ्लाई गांधीमति में 55% हिस्सा खरीदाडील से CG कंज्यूमर को कितना फायदा?
जानिए पूरी रिसर्च देवांशी आशर से...#ZeeBusiness LIVE https://t.co/QTsT7fZ0ea#cromptongreaves @deepdbhandari @devanshiaZBiz pic.twitter.com/93WTiaL2yv— Zee Business (@ZeeBusiness) February 23, 2022
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
06:11 PM IST