Advent, Temasek to buy Crompton's consumer electric business for Rs 6,600 cr

MUMBAI: Advent and Temasek are close to announcing the deal to buy Crompton Consumer Electricals business for a total enterprise value of Rs 6,600 cr, sources with direct knowledge share.

In the first leg of the transaction, Advent will lead the acquisition to buy 34.37 per cent stake from the Crompton Greaves promoters.
Temasek and Advent together will make an open offer to buy 26 per cent stake in the demerged consumer business.

Deal is expected to value per share of Crompton Consumer Electricals business at Rs 94/share. Eventually, Advent may hold 40 per cent and Temasek over 20 per cent in the company, sources said.