Symphony to acquire 95% stake in Australia based Climate Technologies

Symphony has signed an agreement to effectively purchase 95% equity stake in Climate Technologies, Australia's leading manufacturer of cooling and heating appliances.

The acquisition will be executed at a valuation range of AS 40-44 million (Rs 201- 22I crore) depending on the achievement of FY18F EBITDA (June ended). Further, the valuation is subject to change based on customary closing conditions. The Company plans to finance the acquisition through a judicious mix of debt and internal cash accruals.

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