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Mumbai, June 17

Voltas Ltd on Tuesday announced acquisition of 50 per cent stake in Universal Comfort Products Ltd, a 50:50 joint venture between Voltas and Fedders International Air-conditioning Ltd. Voltas, upon getting the required approvals, will be picking up 1.38 crore equity shares of Universal Comfort for a consideration of Rs 3.12 crore. Accordingly, Universal Comfort ceases to be a joint venture between Voltas and Fedders and now becomes a wholly owned subsidiary of Voltas, the company said. Universal is in the business of manufacturing window room air-conditioners and split air-conditioners.

— Our Bureau

More Stories on : Mergers & Acquisitions | Air-conditioners & Refrigerators

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