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    Crompton Consumer spreads its wings, with buyout of Butterfly Gandhimathi

    In FY21, Butterfly clocked a revenue growth of 27 percent despite the pandemic disruptions

    Sachin Pal
    Neha Gupta
    February 24, 2022 / 10:41 AM IST
    Crompton Consumer spreads its wings, with buyout of Butterfly Gandhimathi

    Crompton Greaves Consumer Electricals has announced the acquisition of a 55 percent stake in Butterfly Gandhimathi Appliances from the existing promoter group for a consideration of Rs 1,380 crore. Crompton Greaves will also purchase land parcels and brand-related trademarks for Rs 85 crore and Rs 30 crore, respectively. Further, Crompton will launch an open offer to acquire an additional 26 percent stake in the company. The transaction is expected to be financed through a combination of cash and debt. About...

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