LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Business News » Companies News

Havells to acquire Lloyd's consumer durable biz for Rs 1,600 crore

"...(Havells')board has approved the acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer).The acquisition is proposed to be executed at an enterprise value of Rs 1,600 crores on a debt free, cash free basis subject to closing adjustments," the company said in a statement.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
Havells to acquire Lloyd's consumer durable biz for Rs 1,600 crore
This acquisition, when completed, will mark Havells' foray into consumer durables industry. Photo: Official Website
Written By: PTI
Updated: Sun, Feb 19, 2017
02:12 pm
New Delhi, PTI
RELATED NEWS
Havells and Punjab National Bank, 2 stocks to trade in next week Havells and Punjab National Bank, 2 stocks to trade in next week
This Rs 1 lakh turned into WHOPPING Rs 1.31 crore! 13,285% profit; this is what made it possible This Rs 1 lakh turned into WHOPPING Rs 1.31 crore! 13,285% profit; this is what made it possible
How to become a crorepati: This stock turned Rs 1 lakh into Rs 1.78 crore How to become a crorepati: This stock turned Rs 1 lakh into Rs 1.78 crore
Havells India Q4 down 8.4 pct to Rs 206.83 crore Havells India Q4 down 8.4 pct to Rs 206.83 crore
Llyods shares drop but is this a good deal for Havells India? Llyods shares drop but is this a good deal for Havells India?

The electrical goods company Havells today said it will acquire consumer durable business of Lloyd Electric & Engineering for about Rs 1,600 crore.

"...(Havells')board has approved the acquisition of Lloyd Consumer Durable Business Division (Lloyd Consumer).The acquisition is proposed to be executed at an enterprise value of Rs 1,600 crores on a debt free, cash free basis subject to closing adjustments," the company said in a statement.

This acquisition, when completed, will mark Havells' foray into consumer durables industry.

The transaction is subject to confirmatory due diligence and is expected to close in next 8 weeks. The company plans to finance the transaction through a mix of debt and internal accruals, the statement said.

"The proposed acquisition is in line with Havells objective of 'Deeper into Homes', driving domestic expansion and owning a brand and distribution oriented asset. We would leverage and extend the trust associated with brand Havells to consumers, dealers, vendors of Lloyd and create a similar recognition in consumer durables segment," Havells India Chairman & Managing Director Anil Rai Gupta said.

The company said that it will completely acquire the consumer business of Lloyd.

The company has signed an agreement with Lloyd Electrical and Engineering Limited and Fedders Lloyd Corporation Limited for acquiring Lloyd brand and the consumer durable business.

The consumer business of Lloyd is engaged in sourcing, assembling, marketing and distribution of consumer durables including air-conditioners, TVs, washing machines and other household appliances, it added.

Havells will acquire the consumer business infrastructure, people, distribution network including and not limited to absolute, exclusive ownership and right to all intellectual property of brand Lloyd, logo, trademark, goodwill and attendant rights.

The proforma revenues of consumer durable arm, Lloyd Consumer for 9 months ended 31 December, 2016 stood at Rs 1,242 crores and EBDITA of Rs 75 crores. Based on its run rate and past performance, full year revenue is estimated at Rs 1,850 crores with proforma EBDITA of Rs 110 crores, the statement said.

"Through this acquisition, Havells would mark a foray into Consumer durables industry currently estimated at USD 15 billion and growing in double digits with low penetration levels, increasing urbanisation, aspirational and expanding middle class," the statement said.

Lloyd, which is among the top 3 brands in air-conditioner category, has expanded into TVs and Washing machines as well.

Standard Chartered Bank was the financial advisor and AZB & Partners were the legal advisors to the transaction. EY represented sellers as their financial advisor, the statement said.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Havells IndiaLloyd Electric & EngineeringHavells - Lloyd mergerconsumer durablesAcquisition DealFedders Lloyd Corporationlloyd brandhevells
RELATED NEWS
Havells and Punjab National Bank, 2 stocks to trade in next week Havells and Punjab National Bank, 2 stocks to trade in next week
This Rs 1 lakh turned into WHOPPING Rs 1.31 crore! 13,285% profit; this is what made it possible This Rs 1 lakh turned into WHOPPING Rs 1.31 crore! 13,285% profit; this is what made it possible
How to become a crorepati: This stock turned Rs 1 lakh into Rs 1.78 crore How to become a crorepati: This stock turned Rs 1 lakh into Rs 1.78 crore
Havells India Q4 down 8.4 pct to Rs 206.83 crore Havells India Q4 down 8.4 pct to Rs 206.83 crore
Llyods shares drop but is this a good deal for Havells India? Llyods shares drop but is this a good deal for Havells India?

LATEST NEWS

RBI open to examine proposal on bad banks: Reserve Bank of India Governor Shaktikanta Das

IntelliSmart inks pact with Infosys to develop digital platform for discoms

IRB InvIT Q3 revenue almost flat at Rs 333 cr

Bharat Biotech to pay compensation if Covaxin causes side effects

Loan moratorium case! Petitions in SC seeking direction for contempt of court proceedings against RBI Governor, others

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty crucial support range for next week

RBI remains steadfast to take any further measures to support growth: Shaktikanta Das

HDFC Bank Q3 net rises 14.36 per cent to Rs 8,760 crore

New coronavirus shocker from China! Now, virus found in ice cream - Check eye opening details here

Here is why ONGC's plan to merge MRPL with HPCL may have to wait till FY24

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved