Eveready's plan to sell battery business to pare debt tied in legal knots

Eveready initiated discussion early this year with some companies, including Energizer and Duracell, to sell its battery business to pare debt. Though Eveready informed the stock exchanges last week that no definitive decision had been taken, Duracell is believed to have emerged as the frontrunner and an offer of Rs 1,600-1,700 crore is under discussion. A latest legal twist, however, is likely to delay the plans. The Calcutta High Court on September 3 passed an ad-interim (temporary) order of injunction restraining Williamson Magor & Co, an investment company of Williamson Magor Group (.....

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