Eureka Forbes To Be Acquired From Shapoor Pallonji
Experienced global private equity firm Advent International has planned to acquire the consumer durables flagship of the diversified Shapoorji Pallonji (SP) Group, Eureka Forbes. The acquisition would be done at an enterprise value of Rs 4,400 crore. The loss-making business, a subsidiary of listed Forbes & Co, will be spun out through a National Company Law Tribunal-approved demerger process and then be listed separately.