Greaves Cotton to acquire Bukh-Farymann Diesel GmbH, Lampertheim, Germany

Greaves Cotton Ltd has announced that the Company has decided to acquire a 100% stake in Bukh-Farymann Diesel GmbH (Bukh-Farymann) at an Enterprise Value of approximately Euro 4.24 million, which includes existing Debt of approximately Euro 1.59 million. This acquisition will be made through a wholly owned Subsidiary i.e. Greaves Cotton Netherlands B.V., incorporated recently.

Bukh-Farymann is a profit making Company and engaged in the manufacture and marketing of Farymann diesel engines and components thereof. This acquisition will facilitate the Company going global and also boost its exports initiatives. The Share Purchase and Transfer Agreement is expected to be executed shortly, with the owners of Bukh-Farymann Diesel GmbH.

Source : Equity Bulls

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