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Asian Electronics is on the lookout for an acquisition reports CNBC-TV18.
According to the sources, Asian Electronics is likely to acquire and merge Green Hydrocarbons India. Both Green Hydro and US Instruments companies are engaged in making bio-fuel from waste. The deal size likely to be around Rs 80 crore which is likely to be a combination of cash and share swap.
Sources say that the topline is likely to double in FY08 post-acquisition. The company is also eyeing tie-up with Singapore based company for technology.
When contacted, management has declined to comment
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