Brief: GMM Pfaudler To Buy Majority Stake In Global Business Of Pfaudler Group

Gmm Pfaudler

20/08/2020 13:25

Aug 20 (Reuters) - GMM Pfaudler Ltd  GMMP.NS :
    * TO BUY MAJORITY STAKE IN GLOBAL BUSINESS OF PFAUDLER GROUP
    * REVENUE OF COMBINED ENTITY ESTIMATED TO BE AROUND  20
BILLION
RUPEES
    * ACQUISITION EXPECTED TO BE EARNINGS ACCRETIVE IMMEDIATELY
TO
SHAREHOLDERS OF CO
    * DEAL FOR AROUND $27.4 MILLION, FOR 54% STAKE ACQUIRED BY
GMM
    * DEAL WILL BE FUNDED BY VIA MIX OF INTERNAL ACCRUALS AND
DEBT
    * PROMOTERS OF GMM PFAUDLER TO INVEST ALONGSIDE CO
    * TRANSACTION EXPECTED TO CLOSE IN NOV 2020
    * GMM AND PATEL FAMILY WILL BUY A 54% AND 26% EQUITY STAKE,
RESPECTIVELY, IN THE PFAUDLER GROUP

Source text for Eikon:  ID:nBSE4CS1dM 
Further company coverage:  GMMP.NS 

 ((Reuters.Briefs@thomsonreuters.com;))