Crompton Greaves Consumer proposes strategic merger with Butterfly Gandhimathi Appliances
The merger is seen to unlock various revenue and cost synergies, and achieve economies of scale by pooling the combined resources and provide an impetus to grow across all parts of India.
Crompton Greaves Consumer Electricals has proposed a scheme of amalgamation of Butterfly Gandhimathi Appliances with the company. Both are listed companies and the merger will take place through shares swap. This merger is expected to accelerate and smoothen the realization of synergies of the combined business.