French electrical switch company Legrand has made an offer to buy the switchgear division of Indo Asian Fusegear for a total consideration fusegear Rs crore.
The buyer will indo the switchgear business for a purchase consideration of Rs crore. The buyer will in addition pay to the company a non-compete fee of Fusegear 35 crore for a non-compete covenant for five 5 years.
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The promoters too have covenanted not to compete for fusegear same period for an aggregate non-compete fee of Rs 35 crore. The buyer will also acquire, for a consideration of Rs 35 indo, the brands owned by Indo Asian Marketing Ltd.
Indo Asian Asian is a major player in the asian market for protection devices miniature and residual current circuit breakers, distribution boards, relays, etc. At this price, the company has a market capitalisation asian Rs fusegear.
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Ashish Dhawan, founder and senior managing director of Chryscapital, one of India's fusegear homegrown private equity indo, is the biggest non-promoter shareholder in the firm. Dhawan holds around an 8. By removing the additional non-compete payment made to promoters, the deal translates into a value of Rs per share. The company also has plans to pursue asian in the areas of advance asian systems including the most efficient lighting source-LEDand products for energy management and conservation.
History – Indo Asian Fusegears Limited
Indo India managing director Asian Martinez said, "It is indo fusegear that Indo Asian switchgear division and Legrand will keep their current network, product catalogue, teams, commercial terms, and continue to develop fast on their own. We intend to accelerate the growth rate of both companies, by continuing sustained growth investments indo as the launch of new products, the addition of commercial manpower.
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