Crompton Greaves Plans to Sell Consumer Electrical Unit to Advent and Temasek

Mumbai: Crompton Greaves Ltd proposes to divest its entire stake in consumer electricals unit for Rs 2,000 crore to a special purpose vehicle managed by Advent International Corp and a unit of Singapore's Temasek Holdings, the company said in a statement on Friday. A consortium led by US private equity firm Advent International Corp is set to buy the consumer products business of Crompton Greaves for up to $350 million, two sources ...