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India : Blue Star to pay Rs 80 crore upfront for D S Gupta Construction acquisition.

Mumbai-based airconditioning and commercial refrigeration products maker Blue Star said that its board of directors today approved an upfront consideration of Rs80 crore for the acquisition of plumbing and fire fighting major D S Gupta Construction.

Blue Star Electro-Mechanical Limited, a wholly-owned subsidiary of Blue Star Limited, plans to acquire Mumbai-based D S Gupta Construction Pvt Ltd on a slump sale basis. The transaction is subject to customary closing conditions.

The turnover of D S Gupta Construction was in excess of Rs 130 crore in FY10 and the Company has a carry forward order book of around Rs 300 crore.

With this acquisition, Blue Star will strengthen an important pillar in its electro mechanical projects offering for its commercial and residential real estate customers.

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Date:Jul 27, 2010
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