Saint Gobain in talks to acquire Electrotherm India's pipe division to tap fast-growing water distribution segment

Mumbai : In a bid to tap India's fast-growing water distribution segment, France's Saint Gobain, a global leader in construction, building materials and glass, is in talks to acquire the pipes division of Electrotherm (India).

The estimated valuation of Electrotherm's pipe division, which has an annual capacity of about 200,000 tonnes, is likely to be nearly Rs 300-350 crore, people aware of the talks told ET.

"There have been preliminary discussions but nothing has been finalised yet. It's too early to comment at this stage," said Electrotherm MD Shailesh Bhandari.