Advent, Temasek to buy Crompton Greaves' consumer unit
Advent International and Temasek Holdings have agreed to buy a 34.37% stake in the consumer products unit of India’s Crompton Greaves from Avantha Group. The deal values the business at INR66 billion ($1.07 billion).
The groundwork for the divestment was laid in March when the Crompton Greaves board approved the vertical demerger of its consumer products unit into Crompton Greaves Consumer Electricals (CGCEL), a wholly-owned...
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