{"id":263309,"date":"2022-03-08T17:30:03","date_gmt":"2022-03-08T12:00:03","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=263309"},"modified":"2022-03-08T14:05:02","modified_gmt":"2022-03-08T08:35:02","slug":"khaitan-co-spearheaded-and-assisted-crompton-greaves-consumer-electricals-ltd-in-acquisition-of-up-to-55-shareholding-of-butterfly-gandhimathi-appliances","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/08\/khaitan-co-spearheaded-and-assisted-crompton-greaves-consumer-electricals-ltd-in-acquisition-of-up-to-55-shareholding-of-butterfly-gandhimathi-appliances\/","title":{"rendered":"Khaitan & Co spearheaded and assisted Crompton Greaves Consumer Electricals Ltd in acquisition of up to 55% shareholding of Butterfly Gandhimathi Appliances"},"content":{"rendered":"

Crompton Greaves Consumer Electricals Limited | Acquisition of up to 55% of the shareholding of Butterfly Gandhimathi Appliances<\/p>\n

 <\/p>\n\n\n\n
<\/td>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

NO<\/strong><\/span><\/h4>\n<\/td>\n

\n

HEADINGS<\/strong><\/span><\/h4>\n<\/td>\n

\n

DETAILS<\/strong><\/span><\/h4>\n<\/td>\n<\/tr>\n

\n

1.<\/p>\n<\/td>\n

\n

Sector<\/p>\n<\/td>\n

\n

\u00a0Consumer Durables<\/p>\n<\/td>\n<\/tr>\n

\n

2.<\/p>\n<\/td>\n

\n

Announcement Date<\/p>\n<\/td>\n

\n

22-Feb-2022 (Signing date)<\/p>\n<\/td>\n<\/tr>\n

\n

3.<\/p>\n<\/td>\n

\n

Completion Date<\/p>\n<\/td>\n

<\/td>\n<\/tr>\n
\n

4.<\/p>\n<\/td>\n

\n

Name of Client<\/p>\n<\/td>\n

\n

Crompton Greaves Consumer Electricals Limited<\/p>\n<\/td>\n<\/tr>\n

\n

5.<\/p>\n<\/td>\n

\n

Acquirer Details<\/p>\n<\/td>\n

\n

Crompton Greaves Consumer Electricals Limited\u00a0 | India<\/p>\n

Leading manufacturers of consumer products in India with a 90+ years old brand legacy<\/p>\n<\/td>\n<\/tr>\n

\n

6.<\/p>\n<\/td>\n

\n

Target Details<\/p>\n<\/td>\n

\n

Butterfly Gandhimathi Appliances Limited | India<\/p>\n

Butterfly is engaged in the business of manufacturing, marketing,
\ndistributing and supplying household appliances under the brand name of “Butterfly”<\/p>\n<\/td>\n<\/tr>\n

\n

7.<\/p>\n<\/td>\n

\n

Deal Description<\/p>\n<\/td>\n

\n

Acquisition of up to 55% of the shareholding of Butterfly Gandhimathi Appliances Limited by Crompton Greaves Consumer Electricals Limited<\/p>\n<\/td>\n<\/tr>\n

\n

8.<\/p>\n<\/td>\n

\n

Total Consideration<\/p>\n<\/td>\n

\n

INR 2,046.25 crores comprising of secondary purchase worth INR 1379.68 crores from promoters and open offer worth INR 666.57 crores<\/p>\n<\/td>\n<\/tr>\n

\n

9.<\/p>\n<\/td>\n

\n

Team Members<\/p>\n<\/td>\n

\n

The core team consisted of Sudhir Bassi (Executive Director), Aravind Venugopal (Partner), B N Vivek (Principal Associate) and Aarthi Sashikumar (Associate) with assistance from the following:<\/p>\n

Carrying out the open offer process and documentation: Arindam Ghosh (Partner), Gaurav Malhotra (Principal Associate), Anvita Mishra (Senior Associate), Gaurang Mansinghka (Associate)<\/p>\n

Real Estate aspects of the transaction: Arva Merchant (Partner), Kartik Shiv Kumar (Principal Associate), Aditya Mukerjee (Associate), Annapoorani Ganapathy (Associate)<\/p>\n

Intellectual Property aspect of the transaction: Shailendra Bhandare (Partner), Sourav Dan (Principal Associate), Rhea Ghanshani (Associate)<\/p>\n

Employment law aspect of the transaction: Vinay Joy (Partner), Srishti Ramkrishnan (Senior Associate), Aditya J Nair (Associate)<\/p>\n

 <\/p>\n

Competition law aspect of the transaction: Anisha Chand (Partner), Tanveer Verma (Senior Associate)<\/p>\n

 <\/p>\n

Due diligence and other corporate aspects: Aditi Vasani (Associate), Balashri Jalgar (Associate), Hemandu Aswal (Associate), Kritika Dobhal (Associate), Parmeet Singh (Associate)<\/p>\n

 <\/td>\n<\/tr>\n

\n

10.<\/p>\n<\/td>\n

\n

Role of Firm<\/p>\n<\/td>\n

\n

Spearheaded the deal and represented and assisted the acquirer, Crompton Greaves Consumer Electricals Limited throughout the life cycle of the deal<\/p>\n<\/td>\n<\/tr>\n

\n

11.<\/p>\n<\/td>\n

\n

Other legal advisors if any with names of Lead Lawyers<\/p>\n<\/td>\n

\n

Cyril Amarchand Mangaldas<\/p>\n<\/td>\n<\/tr>\n

\n

12.<\/p>\n<\/td>\n

\n

Unique Feature of Transaction<\/p>\n<\/td>\n

\n

A significant consolidation in the consumer appliances space, bringing together two of India\u2019s most iconic brands in this space<\/p>\n<\/td>\n<\/tr>\n

13.<\/td>\nPress coverage<\/td>\nCrimpton Greaves Consumer to buy majority stake in Butterfuly Gandhimathi Appliances <\/a><\/p>\n

Butterfly Gandhiamathi Acquistion to hel become leading kitchen appliance brand crompton greaves <\/a><\/p>\n

Cromption Greaves to acquire butterfly gandhimathi for a full kitchen play <\/a><\/p>\n

Cromption Geeaves consumer to acqurie majority stake in butterfly gandhimathi appliances <\/a><\/p>\n

Crompton Greaves Consumer to buy majority stake in butterfly gandhimathi appliances<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n

<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Crompton Greaves Consumer Electricals Limited | Acquisition of up to 55% of the shareholding of Butterfly Gandhimathi Appliances   NO HEADINGS DETAILS <\/p>\n","protected":false},"author":8808,"featured_media":263322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45282,2],"tags":[],"class_list":["post-263309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-law-firms-news","category-news"],"yoast_head":"\nKhaitan & Co spearheaded and assisted Crompton Greaves Consumer Electricals Ltd in acquisition of up to 55% shareholding of Butterfly Gandhimathi Appliances | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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that the kind of consumer who would purchase these infringing goods would not enter into a detailed enquiry as to whether these infringing products are genuinely those of the plaintiff or not. The plaintiff is most likely to suffer on financial account\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"CROMPTON trade mark interim protection","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CROMPTON-trade-mark-interim-protection.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CROMPTON-trade-mark-interim-protection.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CROMPTON-trade-mark-interim-protection.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/03\/CROMPTON-trade-mark-interim-protection.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":290915,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/04\/29\/dsk-legal-advises-excel-controlinkage-private-limited-in-relation-to-sale-of-their-100-shareholding-in-excel-to-greaves-cotton-limited-gcl\/","url_meta":{"origin":263309,"position":1},"title":"DSK Legal advises Excel Controlinkage Private Limited in relation to sale of their 100% shareholding in Excel to Greaves Cotton Limited (GCL)","author":"Bhumika Indulia","date":"April 29, 2023","format":false,"excerpt":"TRANSACTION SUMMARY DSK Legal advised Excel Controlinkage Private Limited (Excel) and its Promoters in relation to sale of their 100% shareholding in Excel to Greaves Cotton Limited (GCL) in four tranches. The first tranche will comprise of sale of 60% shareholding in Excel. The deal value is approximately INR 385,00,00,000\/-\u2026","rel":"","context":"In "Law Firms News"","block_context":{"text":"Law Firms News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"greaves cotton limited","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/greaves-cotton-limited.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/greaves-cotton-limited.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/greaves-cotton-limited.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/04\/greaves-cotton-limited.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":248542,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/05\/21\/consumer-2\/","url_meta":{"origin":263309,"position":2},"title":"DSCDRC | If a car is purchased for company\u2019s Vice-President\u2019s personal use, would VP come under the umbrella of Consumer Protection Act? Read on","author":"Bhumika Indulia","date":"May 21, 2021","format":false,"excerpt":"Delhi State Consumer Disputes Redressal Commission (DSCDRC): Coram of Dr Justice Sangita Dhingra Sehgal (President) and Anil Srivastava (Member) decided on the question whether if a car is purchased for the personal use of a company\u2019s Vice President, would the acquisition of such a car come under the Consumer Protection\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/Consumer.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/Consumer.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/Consumer.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/Consumer.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/Consumer.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":224059,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/01\/09\/cabinet-approves-strategic-disinvestment-of-equity-shareholding-of-mmtc-ltd-nmdc-ltd-mecon-bhel-in-neelachal-ispat-nigam-ltd-a-jv-company-with-two-govt-of-odisha-state-psus\/","url_meta":{"origin":263309,"position":3},"title":"Cabinet approves strategic disinvestment of equity shareholding of MMTC Ltd., NMDC Ltd., MECON & BHEL in Neelachal Ispat Nigam Ltd. a JV Company with two Govt. of Odisha State PSUs","author":"Bhumika Indulia","date":"January 9, 2020","format":false,"excerpt":"The Cabinet Committee on Economic Affairs has given 'in principle' approval for strategic disinvestment of equity shareholding of Minerals & Metals Trading Corporation Limited (MMTC) (49.78%), National Mineral Development Corporation (NMDC) (10.10%), MECON (0.68%) and Bharat Heavy Electricals Ltd. (BHEL) (0.68%) and two Odisha State Government PSUs namely; Industrial Promotion\u2026","rel":"","context":"In "Cabinet Decisions"","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":222579,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/27\/cci-approves-acquisition-of-4-94-shareholding-in-suzuki-motor-corporation-by-toyota-motor-corporation\/","url_meta":{"origin":263309,"position":4},"title":"CCI approves acquisition of 4.94% shareholding in Suzuki Motor Corporation by Toyota Motor Corporation","author":"Bhumika Indulia","date":"November 27, 2019","format":false,"excerpt":"The Competition Commission of India (CCI) approves the acquisition of 4.94% shareholding in Suzuki Motor Corporation (SMC) by Toyota Motor Corporation (TMC) and the acquisition of 0.24% shareholding in TMC by SMC. The proposed combination relates to the acquisition of a minority shareholding of 4.94% in SMC by TMC, and\u2026","rel":"","context":"In "Business News"","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/11\/Acquisition.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":296823,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/14\/delhi-hc-restrains-wipro-enterprises-from-using-mark-evecare-female-menstrual-health-products\/","url_meta":{"origin":263309,"position":5},"title":"[Himalaya v. Wipro] Delhi High Court restrains Wipro Enterprises from using \u2018EVECARE\u2019 mark for female menstrual health products","author":"Simranjeet","date":"July 14, 2023","format":false,"excerpt":"\u201cIt is intriguing as to why a reputed company such as the defendant company, Wipro Enterprises would launch its product, also pertaining to female reproductive hygiene, almost 22 years later, using the identical trade mark as that of the plaintiffs, Himalaya Wellness Co.\u201d","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"delhi high court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/delhi-high-court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/delhi-high-court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/delhi-high-court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/05\/delhi-high-court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/263309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=263309"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/263309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/263322"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=263309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=263309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=263309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}