Advent International will acquire a controlling stake in Eureka Forbes for approximately Rs 4,400 crore. This will be Advent's 5th consumer buyout in India.

Under the sale process, Eureka Forbes will be demerged into a standalone company and will be listed on BSE.

Advent will buy up to 72.56 percent of the company’s then outstanding stock on a fully diluted basis from Shapoorji Pallonji Group.

After the acquisition of the stake, Advent would make an open offer for the remaining stake. The sale process began in November 2019.

It is expected to help Shapoorji Pallonji group pair the debt pile.

Eureka Forbes is a subsidiary of Shapoorji Pallonji Group company - Forbes & Company.

Advent's consumer portfolio in India includes DFM foods, Dixcy Textiles & Crompton Greaves Consumer Electricals.

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(Edited by : Abhishek Jha)