Date:9/08/11,
M&A,
Domestic Deal,
ABB Ltd acquires 100% stake in Pune based Baldor Electric India Pvt Ltd, from Baldor Holdings Inc, USA and Baldor Electric Switzerland AG, Switzerland, for INR 357million.
Earlier this year, ABB Ltd's holding group, ABB Group had acquires
Baldor's USA parent, Baldor Electric Company, USA, for $4.2 Bn in cash.
As a result of this, both, Baldor Holdings Inc., USA and Baldor Electric
Switzerland AG, were acquires by ABB Group.
Baldor provides sales
and service assistance to its customers including support for the
products viz., electric motors, power transmission products, drives,
generators and other accessory products.
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