India Digest: Lotus Herbals eyes stake sale; Anchor by Panasonic mulls acquisitions

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In the latest M&A news, homegrown Lotus Herbals is looking to divest 10-15 per cent stake to a private equity investor to fund acquisitions while Anchor by Panasonic is eyeing three acquisitions in the electricals space.

Lotus Herbals looks to divest 10-15% stake

Homegrown personal care and cosmetics brand Lotus Herbals is looking to divest 10-15 per cent stake to a private equity investor to fund acquisitions, The Economic Times reported.

The company is seeking mid-sized acquisitions within the personal care segment in India and overseas. The company has roped in investment bankers to identify potential buyers.

Nitin Passi, joint MD of New Delhi-based Lotus Herbals, told the newspaper that the company has identified potential targets but they are unwilling to sell out at this point.

Anchor by Panasonic mulls acquisitions

Electricals company Anchor by Panasonic is eyeing three acquisitions and planning to build a new facility in Andhra Pradesh, said an Economic Times report quoting the company’s managing director Vivek Sharma.

The company is looking for potential targets in the switchgear space and also in the Indoor Air Quality (IAQ) division that includes fans and ventilation systems used by households as well as commercial establishments.

The Indian electrical arm of the Japanese Panasonic Corporation is eyeing a $1-billion turnover in the next three years as it rejigs focus areas and beefs up its B2B and B2G departments, the report added. Panasonic had fully acquired Anchor Electrical in 2007.

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