Blue Star buys Naseer Electricals for Rs 42cr

New Delhi, Feb 14 (UNI) Blue Star Ltd today said it has acquired Naseer Electricals Pvt Ltd for Rs 42 crore which will enable it to carry on business in integrated Mechanical, Electrical&Plumbing (MEP) contracting projects for the commercial building and infrastructure segments.

The complete strategic acquisition of the businesses of Naseer Electricals by Blue Star includes upfront payment, debt and escrow amount payable on fulfillment of certain conditions, a company statement said.

Blue Star, which is the leader in central airconditoning in the country, will continue to focus on its core businesses of airconditioning and commercial refrigeration as manufacturer, contractor and service provider.

UNI SG MIR DS1505