CG Power & Industrial Solutions to sell its business in Hungary

At an enterprise value of Euro 38 million

CG Power & Industrial Solutions announced the execution of sale and transfer of its business in Hungary on 12 February 2018. The sale is expected to close on or before 31 March 2018 upon which CG Electric Systems Hungary Zrt will cease to be an overseas subsidiary of the company. The sale is in line with the company's strategy of reducing debt and focusing on core operations in India.

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