Indian lighting and electrical equipment supplier Havell’s is to buy the SLI Sylvania Group for 227.5 million Euros. The deal is financed by an international consortium led by Barclays Capital.

Havell's and SLI Sylvania plan to leverage their complementary products and markets to become a one-stop-shop for lighting systems and electrical equipment. The pair had a combined turnover of 750 million Euros in 2006.

Qimat Rai Gupta, chairman of Havell’s, said: “Havell’s has found the perfect partner. The established networks of SLI will enable us to speed up our internationalisation process.”

SLI Sylvania’s regional focus lies in Europe and Latin America with growing activities in Asia and the Middle East. Havell’s main region is India.

Source

Electrical and Mechanical Contractor