Exide Inds Acquires Remaining 51% Stake In Leadage Alloys
Exide Industries Limited is buying out the remaining 49% stake in Leadage Alloys India Ltd making it a wholly owned subsidiary of Exide.
Exide has entered into an agreement to acquire 22,93,200 equity shares of LIAL.
Transaction Reference: MyIris
Exide Industries Ltd is a manufacturer of lead acid storage batteries and power storage solutions provider. Apart from 6 factories in India, Exide also has manufacturing facilities in Sri Lanka and does business globally through its subsidiaries and affiliates in South-East Asia, Australia and Europe.
The company had acquired 51% stake in Leadage Alloys India Limited for about Rs 35 Cr in 2008.
LIAL is engaged in manufacturing and supplying Lead and its various Alloys.
In October 2007, Exide had acquired Tandon Metals Limited.
Earlier this year, the company picked up a stake in cable distribution and broadband venture Hathway Cable and Datacom Ltd; which was its second investment in an unrelated business.
It is also a partner in ING Vysya Life Insurance Company Ltd. The battery maker has a 50 per cent voting right in the unlisted and loss-making life insurance venture.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 13/08/10 | Leadage Alloys - Exide Inds | M&A | Exide Industries Limited | - |
| 17/06/08 | Leadage Alloys - Exide Industries Ltd. | M&A | Exide Industries Limited | 7.90 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | M&A | Looking For | VRL Cement Limited | - | Planned |
| 03/02/12 | Private Equity | Emerging Markets Management LLC | Sintex Industries Limited | 2.97 | Completed |
| 02/02/12 | M&A | Binani Industries Limited | 3B - The Fibreglass Company | 362.00 | Completed |
| 16/01/12 | M&A | Dalmia Bharat Sugar and Industries Limited (Dalmia Cement Bharat Ltd) | Calcom Cement India Limited | 46.03 | Announced |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Exide Industries Limited | Rajan Raheja Group | Exide House, 59E Chowringhee Road Kolkata-700020 |
Amara Raja Batteries Limited Base Corporation Limited Bosch Limited Minda Industries Limited Rane Brake Lining Limited Motherson Sumi Systems Limited EMMBROS Autocomp Limited |
http://www.exideindustries.com/ |
| Leadage Alloys India Limited | T Arun Kumar T Raj Kumar |
# 60, Sheethanayakanahalli Malur Taluk , Kolar District Karnataka – 563130 India | Deepak Cables India Limited | www.leadage.in |
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