India’s leading electrical appliances and components company, Havells India Limited has said that its board has provided the approval for the acquisition of Llyod Consumer Durable Business Division (Lloyd Consumer).

On the completion of this acquisition, Havells will mark its foray into the consumer durable industry.

According to a press release by the company, the acquisition has been 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 transaction has been expected to complete in the next eight weeks.

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