Salzer Electronics to buy 72% stake in Kaycee Industries in all cash deal

Salzer Electronics Limited, which offers electrical solutions, on Monday signed a deal to acquire a 72.32 per cent stake in Kaycee Industries Limited in an all cash deal. Salzer will make an offer to purchase a 26 per cent additional stake from public for a total equity value of Rs 22 crores.

Salzer Electronics will fund this transaction through a mix of internal accruals and debt. The acquisition is subject to regulatory approvals.

Kaycee manufactures switchgear and was controlled by the CMS group which is one of the largest IT/ ITES & Enterprise solution firms in India.

Kaycee Industries Limited