Crompton Greaves Ltd on Thursday said it has received non-binding proposals from international entities for acquiring the company’s European, North American and Indonesian power divisions.
It has also received offers for the Canadian power and the American transportation automation business. The company did not disclose any more details of the offers.
In April, Crompton Greaves’ consumer electrical business was sold to Advent International Corp and Singapore’s Temasek Holdings for ₹2,000 crore. Avantha Holdings, promoter of Crompton Greaves, had said Crompton Greaves Consumer Electricals Ltd (CGCEL) will be demerged into a standalone company and listed on the stock exchanges.
Advent, a global private equity firm, and Temasek will make an open offer for additional shares. CGCEL manufactures and markets a wide array of consumer products, ranging from fans and lamps to household appliances such as water heaters, mixer grinders and toasters.