HAVELL’S INDIA
Deal name: Acquisition of Sli Sylvania's Lighting Business by Havell's India
Date completed: May, 2007
Value: $300 million
Description:
Arias & Muñoz represented Havell's Netherlands BV in Costa Rica in the largestever over seas takeover by an Indian electrical equipment manufacturer whenHavell’s acquired Sylvania's lighting business in a $300 million transaction. The combined revenues are expected to be around $1 billion.
SLI Sylvania, which is based in Frankfurt, is a leading global designer and provider of lighting systems. As of Dec 31, 2006, SLI Sylvania had generated revenues of $594 million, and a normalized EBIDTA of $41.2 million.
SLI Sylvania operates in Europe, Latin America and Africa through 10 manufacturing facilities
Sylvania Osram had previously sold its lighting business to a consortium of three private equity funds comprised of Subros, JP Morgan and DDG Capital. Subsequently, Havell's acquired the business from the consortium.
Currently, Havell's has eight manufacturing facilities in India and a limited presence in Europe through its subsidiary, whilst Sylvania is among the top five lighting companies in all of Europe.
