Havells buys Lloyd’s consumer durables business for Rs1,600 crore

Havells’ board approves the acquisition of Lloyd’s consumer durables business; deal proposed to be executed on a debt-free, cash-free basis

New Delhi: Lighting and electrical appliances company Havells India Ltd on Sunday said it will acquire the consumer durables business of Lloyd Electrical and Engineering Ltd, run by the B.R. Punj Group, for Rs1,600 crore.

Havells signed the deal with Lloyd Electrical and Engineering and Fedders Lloyd Corp. Ltd, as some of the consumer durable brands are co-owned by the two companies promoted by the B.R. Punj Group.

Havells Fusion 2 900mm Matte Finish Ceiling Fan (Pearl Ivory and Brown)

Source: Livemint: February 19, 2017

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