M&A

M&A

Dabur promoters make open offer to acquire 26% in battery maker Eveready for Rs.605-Cr

Business Line  

The Burmans, promoters of Dabur India, have made an open offer for acquiring an additional 26% in dry cell battery maker Eveready Industries India Ltd, the flagship of the BM Khaitan group. The Burman group entities plan to acquire 1,88,98,688 fully paid-up equity shares of face value of INR 5 each at a price of INR 320 per offer share aggregating to INR 605 crore payable in cash. As on December 31, the promoters' shareholding in Eveready was at 4.84 %. Burmans hold 19.84 % stake in the company at present.