Wednesday, July 22, 2020
The promoters of Dabur India — The Burman family- may join hands with the Khaitan's of Williamson Magor Group to manage the country’s largest dry cell battery maker, Eveready Industries India.
After the last tranche of a share purchase of 8.48 percent by the Burmans about a week back, the promoter holding in Eveready slipped below theirs. At present, the Burman family holding is at 19.84 percent while promoters of Eveready are at 15.07 percent.
From the current holding pattern, the Burmans are likely to be the majority partner, sources said.
With this partnership, the promoters of Eveready are hoping to ring-fence the long-term interests of the company. Eveready had earlier held talks with Energizer and Duracell for a slump-sale of the battery business.
Finalising the deal is pending because of an interim order of the Delhi High Court, preventing a change in the capital structure and sale of assets of Eveready, McLeod Russel India, and other Williamson Magor group companies.
