BUTTERFLY GANDHIMA , CG CONSUMER*: Crompton Greaves Consumer Electricals Ltd (“Crompton”) and Butterfly Gandhimathi Appliances Ltd. (“Butterfly”) announce merger
Upon Merger, the public shareholders of Butterfly as on the record date will receive 22 equity shares of Crompton for every 5 equity shares held by them in Butterfly, as a consideration for the Merger.
Post-Merger, the public shareholders of Butterfly will hold ~3.0% stake in the combined entity.
CG CONSUMER; Co Says The Merger will unlock various revenue and cost synergies, achieve economies of scale by pooling the combined resources and provide an impetus to grow across all parts of India.
The combined entity is expected to benefit from pooling of human capital that has diverse skills, talent, and vast experience to compete in an increasingly competitive industry.
Additionally, it will enable more efficient allocation of capital and result in simplification of the corporate structure.
BUTTERFLY GANDHIMA MD On Merger
