Mumbai: Global private equity firm Advent International has signed a definitive agreement with Shapoorji Pallonji Group to acquire a majority stake in health and safety solutions firm Eureka Forbes Limited at an enterprise value of Rs 4,400 crore, subject to closing agreements. Commenting on the deal, Mr. Jai Mavani, Executive Director, Shapoorji Pallonji and Company Private Limited, said, "We are …
Shapoorji Pallonji Group has sold majority stake in its consumer durables business under the Eureka Forbes label to US-based private equity fund Advent International for a sum of ₹4,400-crore. Upon demerger and listing, Advent will purchase up to 72.56 per cent of Eureka Forbes then outstanding stock on a fully diluted basis from SP Group owned Forbes & Co, and …
