CG Power terminates agreement with Ganz Villamossagi Zrt and Alester Holdings

07 May 2019

CG Power and Industrial Solutions has terminated agreement with Ganz Villamossagi Zrt and Alester Holdings with effect from April 30, 2019, as certain conditions subsequent agreed to be performed between the parties have not been met.

Earlier, the company had executed of Business Transfer Agreement and Share Sale and Purchase Agreement with Ganz Villamossagi Zrt and Alester Holdings with respect of the sale of Assets and Shares of the Company's businesses in Hungary (excluding switchgear business) owned by the Company's subsidiary, CG Electric Systems Hungary Zrt  at an Enterprise Value of Euro 38 million.

Avantha Group Company CG Power and Industrial Solutions (formerly Crompton Greaves) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.

Related CG Power & Industrial Solutions Ltd. Links:

CG Power & Indl.Soln Share Price

14.81 -0.69 (-4.45%) Nov 18, 14:49
1 Year Price Chart
Peers
Company Name CMP
Siemens 1559.00
ABB India 1462.00
Havells India 671.00
CG Power & Indl.Soln 14.81
Apar Inds 471.90
View more..
Sensex vs CG Power & Indl.Soln
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

Callback

8055769463

8055769463