 Saint Gobain to acquire Electrotherm India's pipe businessPublished on Wed, Dec 14, 2011 at 21:01 | Source : CNBC-TV18 Updated at Thu, Dec 15, 2011 at 09:30 1958 Investors following Electrotherm. Share this News with them.
French multinational corporation Saint Gobain is set to acquire 100% stake in Electrotherm India 's pipe business subsidiary for Rs 950 crore. Earlier in the day, CNBC-TV18 had exclusively reported the possibility of the stake sale being concluded this week. The company had indicated plans to sell the subsidiary in October. Electrotherm India is set to use the funds from the stake sale to repay its existing debt, which is above Rs 2,200 crore as on March 2011.
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