Crompton Greaves Consumer Electrical (CG Consumer) is eyeing an acquisition to beef up its lighting portfolio, sources said on July 23.
The company is in an advanced stage of talks to buy the Syska LED Lighting business and the negotiations are going on around Rs 2,000 crore of deal value.
Crompton is a large player in the lighting business and through the Syska acquisition it can get a leg up.
CG Consumer’s overall revenue from the lighting business is close to 22 percent of the total revenues and it has been looking to up it.
Watch the accompanying video of CNBC-TV18’s Nisha Poddar for more details.