Companies

Eveready clarifies on news report

Our Bureau Kolkata | Updated on September 09, 2019 Published on September 09, 2019

Eveready Industries India Ltd on Monday clarified that “no definitive decision” has been taken on strategic options, joint ventures and commercial arrangements involving the company.

In its response to a clarification sought by the BSE on Monday with reference to the news —‘Eveready shares hit 5% lower circuit after reports of Duracell’s plans to buy company assets’ — the company said, “As part of business strategy, various strategic options, joint ventures, commercial arrangements involving the company are evaluated and considered from time to time. However, as of this time, no definitive decision around any such possible option(s) has been made by the company which requires disclosure under the SEBI Regulations 2015.”

A newspaper report had said that Duracell Inc, owned by Warren Buffett's Berkshire Hathaway, was set to acquire Eveready’s battery and flashlight business in a slump sale for ₹1,600-1,700 crore.

Published on September 09, 2019
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