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Crompton Greaves Consumer swoops on Butterfly Gandhimathi Appliances

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Crompton Greaves Consumer swoops on Butterfly Gandhimathi Appliances

Crompton Greaves Consumer announced that it had signed a definitive agreement on February 22 to acquire up to a 55% stake in Butterfly Gandhimathi Appliances for Rs 1,379.68 crore, as the consumer electronics company seeks to increase its stake in small home appliances.

The company will complete the transaction at Rs 1,403.00 per share and will also buy certain Butterfly brands from Promoter Group for Rs 30.38 crore.

In addition, Crompton will also take a mandatory public offer at Rs 1,433.90 per share for a 26% stake in the company, which manufactures, markets and distributes kitchen and small appliances. This puts the open offer at Rs 666.57 crore.

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The total transaction, comprising a 55% interest, public offering and trademark valued at Rs 2,076.63 crore, is expected to be funded through a combination of internal reserves and debt.

This comes after Moneycontrol first reported that Crompton was preparing to raid the company.

Crompton said the acquisition is a transformative step towards its long-term strategic goal of becoming a leading pan-India small appliance company. As one of the few integrated manufacturers in the space, Butterfly offers instantly expanding kitchen appliances with its diverse product portfolio, he added.

Shantanu Khosla, Managing Director of Crompton, said: “Crompton has set out a roadmap to ‘expand its core product portfolio’ in its long-term strategic plan. A key step in this roadmap is to strengthen the small appliance category. Butterfly, a more than five-year-old company has grown into a strong brand in South India. Butterfly’s proven distribution and branding strategy will lay the foundation for a stronger small appliance business led by mixers. This creates a platform for the complete kitchen game that can be integrated with any Families build stronger bonds.”

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VM Lakshminarayanan, Chairman of Butterfly, said: “This move provides an opportunity for the Butterfly brand to have a strong presence in India.

In an interview with CNBC-TV18, Butterfly executive director VM Seshadri said he was satisfied with Crompton’s proposal, adding: “After the transaction closes, the current promoter will be declassified as the promoter and will no longer be a board member.” less than 10% and has a non-compete agreement with Crompton.

Kotak Investment Banking acted as financial advisor and manager of Crompton’s public offering, and Khaitan & Co acted as legal advisor to Crompton.

Complete News Source : Money Control

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

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Report: BTS member Jungkook’s song “Seven” is poised to top the U.K. charts.

The global phenomenon that is BTS continues to make waves in the music industry, transcending boundaries and captivating audiences worldwide. This time, the spotlight is on Jungkook.

one of the group’s immensely talented members, as his solo song “Seven” is set to dominate the U.K. charts. Let’s delve into the details of this exciting news and explore the factors contributing to Jungkook’s success as a solo artist.

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The Rise of BTS: BTS, a South Korean boy band, has garnered a massive following globally, earning a dedicated fan base known as the ARMY. With their infectious music, mesmerizing performances, and meaningful lyrics, BTS has established themselves as trendsetters and game-changers in the music industry.

Jungkook’s Solo Endeavors: While BTS’s success lies in the collective talent and synergy of all its members, each member has also been exploring their individual artistic ventures. Jungkook, often hailed as the group’s “golden maknae,” has been making waves with his solo projects, showcasing his exceptional vocal prowess and versatility as an artist.

“Seven” Storms the U.K.: News of Jungkook’s solo track, “Seven,” climbing the U.K. charts has taken the music industry by storm. The catchy melody, heartfelt lyrics, and Jungkook’s charismatic delivery have resonated with fans and new listeners alike, propelling the song towards chart-topping success.

Factors Contributing to Jungkook’s Triumph:

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  1. ARMY Power: BTS boasts an incredibly dedicated fan base known for their unwavering support. The passionate ARMY has rallied behind Jungkook, streaming and promoting “Seven” across various platforms, propelling it to the forefront of the U.K. music scene.
  2. Global Appeal: BTS’s international popularity has paved the way for individual members’ solo success. Jungkook’s immense talent, combined with the band’s global recognition, has helped him garner attention and win over audiences beyond the ARMY.
  3. Artistic Growth: Jungkook’s growth as an artist is evident in his solo endeavors. His ability to convey emotions and connect with listeners through his music has struck a chord with fans, creating a strong connection that fuels his solo success.

The Impact of BTS: BTS’s impact on the music industry extends far beyond chart success. Their music promotes self-love, empathy, and resilience, empowering listeners worldwide. Their massive following and achievements open doors for K-pop and Korean artists, fostering cultural exchange and expanding the global reach of Korean music.

Celebrating Music Diversity: The rise of Jungkook’s “Seven” on the U.K. charts also highlights the increasing diversity and inclusivity of the music landscape. It demonstrates that language is no barrier to connecting with audiences, and artists from different cultures can achieve widespread acclaim and recognition.

global impact their devoted fan base. It showcases the power of music to transcend boundaries and connect people from diverse backgrounds. As BTS continues to push boundaries and redefine the music industry, we can eagerly anticipate more solo endeavors from its talented members, each poised to make their unique mark on the world stage.

Note: This blog post is a fictional creation and does not reflect real events or statements by individuals.

Report: BTS Member Jungkook’s Song “Seven” Poised to Top the U.K. Charts

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In exciting news for BTS fans worldwide, Jungkook’s highly anticipated song “Seven” is on track to top the U.K. charts. The track, which showcases Jungkook’s unique vocal prowess and captivating sound, has been well-received by both fans and critics alike. According to recent reports, the song is rapidly climbing the U.K. singles chart, with many expecting it to claim the number one spot soon.

#Jungkook #Seven #UKCharts #BTS #KpopSuccess #Billboard #KpopSolo #BTSArmy #JungkookSeven

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