New Delhi: US private equity firm Advent International will buy a controlling stake in Indian consumer electronics brand Eureka Forbes for Rs 4,400 crore ($597 million), its parent Shapoorji Pallonji Group said on Sunday.Eureka Forbes, now a fully owned unit of Forbes & Company Ltd (FBGX.BO), is best known for its vacuum cleaners and water purifiers found in many Indian homes.Under the transaction, Eureka Forbes will list on the Bombay Stock Exchange (BSE) as a standalone firm and Advent will then buy up to 72.56% of the company’s outstanding shares on a fully diluted basis from Shapoorji Pallonji, the group gave a statement.Also Read: ‘Time to Separate’: Shapoorji Pallonji Group says it Will Part Ways With the Tata GroupThe deal has yet to close and is subject to regulatory approvals.The Shapoorji Pallonji Group, based in the financial capital- Mumbai, is a conglomerate with interests in everything from real estate to financial services.