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Advent International has agreed to purchase Eureka Forbes Ltd. to the Shapoorji Pallonji group in a deal that values the Indian maker of ubiquitous water purifiers at 44 billion rupees ($ 600 million).
Eureka Forbes will be a spin-off from parent company Forbes & Co. and will be listed on BSE Ltd., SP Group and Advent said in a joint statement on Sunday. The US-based private equity firm will then acquire up to 72.56% of the company’s shares, followed by a public offering as soon as it receives regulatory clearances.
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