Havells to buy Lloyd Consumer for Rs 1,600 crore

Transaction to take about 8 weeks to conclude; will mark former's entry into ACs, washing machines

Havells India Limited, India’s leading electrical appliances and components company, on Sunday announced its board has approved the acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer). This acquisition, when completed, will mark Havells’ foray into the consumer durable industry. 

The acquisition is proposed to be executed at an enterprise value of Rs 1,600 crore on a debt free, cash free basis subject to closing adjustments, the company said in a press statement. The transaction is expected to close in the next eight weeks.

The company has signed an agreement with Lloyd Electrical and Engineering Limited and Fedders