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Unfolding the GMM-Pfaudler deal


On 20th of August 2020, GMM Pfaudler in its press release said that it will acquire 54% stake in its parent Pfaudler International from the PE firm Deutsche Beteiligungs AG Fund VI (DBAG) for USD 24.7 Mn. 

This transaction is interesting in many ways. 

It is so unusual for a Indian subsidiary to buy a majority stake in its Global parent. The entire transaction is happening without any equity dilution.  Promoters (Patel family) are also participating in this deal to acquire 20% stake in Pfaudler International.

Let's dig deep to understand this deal structure . . .

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