ALSO READCG Power & Industrial Solutions schedules board meeting CG Power & Industrial Solutions divests its power business in USA CG Power & Industrial Solutions appoints director CG Power & Industrial Solutions to sell its power business in USA to WEG S.A CG Power advances after accepting binding offer of WEG S.A.
At meeting held on 10 August 2017CG Power & Industrial Solutions announced that as part of the Company's stated strategy of geography/ product wise divestment with the objective of debt reduction and focus on core operations and core market in India, the Board of Directors of the Company has accepted the binding offer for sale of assets and shares of the Company's business in Hungary (excluding switchgear business) for an enterprise value of Euro 38 million from the prospective buyers to comprise of Ganz Villamossagi Zrt. and Alester Holdings.
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