Pursuant to Regulation 30 of the Listing Regulations, CG Power and Industrial Solutions has informed that on 14th July 2023, QEI Buyer LLC, (‘Purchaser/ Buyer’), a Delaware Limited Liability Company based out of USA has acquired the entire assets of the business excluding Cash of QEI Inc., USA, the Company’s Wholly Owned Step-down Foreign Subsidiary. The aggregate consideration for the sale, conveyance, transfer, assignment and delivery of all of the Acquired Assets is USD 10,500,000. In connection with the above, it has attached its disclosure in terms of the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023.
The above information is a part of company’s filings submitted to BSE.
