CG Power and Industrial completes acquisition of G G Tronics for Rs 319 cr

Quick Summary:

Last month, the company entered into definitive agreements for acquisition of 55 per cent stake of GG Tronics through a combination of purchase of equity shares from GGT promoters and by way of subscription to compulsorily Convertible Preference Shares for an aggregate consideration of Rs 319.38 crore.

CG Power and Industrial Solutions has completed the acquisition of G G Tronics for Rs 319 crore, the company said.

In a BSE filing on Tuesday, the company said it has completed the acquisition of G G Tronics on August 20.

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Article Details

Category: BusinessFinance

Markets: India

Topics: CG Power and Industrial GG Tronics CG Power and Industrial Solution

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 22:00:14 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 190 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 22181993

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