| A group of investors led by bulge-bracket private equity firm Advent International along with Temasek, the investment company of the government of Singapore, are set to buy the consumer business of Crompton Greaves, said multiple sources who are directly involved in the deal.
They will be acquiring the business from billionaire Gautam Thapar and his family, the promoters of the diversified Avantha Group, ending months of negotiations that saw several large global investors and PE funds as well as domestic competitors jostle for the asset. ET reported March 5 that Advent had emerged as frontrunner. A formal announcement is expected as early as next week...............................................Full Article: Source |