Crompton Greaves receives binding offer for acquisiton of its B2B Automation Business

From Alfanar

Crompton Greaves announced that it has received a binding offer for acquisition of the Company's B2B Automation Business, comprising of ZIV Aplicaciones y Technologia, S.L., (Spain), its subsidiaries along with related automation business in UK, Ireland, France and India at an Enterprise Value of 120 million Euros from Riyadh headquartered, Alfanar.

The Company expects the completion of the acquisition by Alfanar by 31 January 2017.

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