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CCI approves proposed acquisition of CS Electric by Siemens

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Truthful commerce regulator CCI on August 20 mentioned it has given nod to the proposed acquisition of C&S Electrical by Siemens. As per a press release issued by Siemens in January, it had inked an settlement to amass 99 per cent fairness in New Delhi-based C&S Electrical for round Rs 2,100 crore.

Giving nod to the deal, the Competitors Fee of India (CCI) mentioned in a tweet that it “approves proposed acquisition of C&S Electrical by Siemens.”

As per the settlement signed between the 2 companies, Siemens will purchase Indian operations of C&S Electrical’s low-voltage switchgear parts and panels, low and medium-voltage energy busbars in addition to safety and metering units companies.

C&S Electrical’s different companies, reminiscent of medium-voltage switchgear and package deal sub-station, lighting, diesel producing units, EPC (engineering, procurement and building), and the Etacom busbars enterprise might be retained by the house owners.

Siemens India focuses on the areas of energy era and distribution, clever infrastructure for buildings and distributed power methods, and automation and digitalization within the course of and manufacturing industries, a launch by CCI mentioned.

It additionally provides good mobility options for rail and street transport and infrastructure options for good cities.

C&S manufactures a spread {of electrical} switchgear, energy safety and electrical distribution product, the discharge mentioned. Amongst others, C&S can also be engaged within the design and execution of grid-connected photo voltaic photovoltaic energy vegetation, it added.

First Revealed on Aug 20, 2020 08:15 pm

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