Advent International, the American buyout firm has decided to purchase the majority stake in Eureka Forbes Ltd for Rs. 4,400 crores. Eureka Forbes is a household name in the water purifier and vacuum cleaner segments and the consumer durable flagship of Shapoorji Pallonji Group.

On Sunday, Eureka Forbes Ltd. and Advent International mentioned in a statement that Eureka Forbes will be separated from its parent, Forbes and Co. Ltd. and will be listed on BSE.

With the help of this transaction, Shapoorji Pallonji Group would be able to reduce its debt and focus on other businesses.