Symphony will be acquiring 95% stake in Climate Technologies Pty, Australia.

The company has entered into a share sale agreement to purchase 95% equity stake in Climate Technologies Pty, through a new incorporated subsidiary company Symphony AU Pty, Australia.

In a release the company stated that, the acquisition will be carried out at a price of approx A$ 40-44 million, depending on the achievement of FY18F EBITDA (June ended). Further the company added that, the valuation is subject to change based on customary closing conditions and the company proposes to finance the acquisition via a judicious mix of debt and internal cash accruals.

Read EquityPandit’s Technical Analysis of Indian Stock Market