CG Power Acquires G G Tronics for Rs 319 Crore

CG Power and Industrial Solutions has completed the acquisition of GG Tronics for Rs 319.38 crore. The acquisition process was finalized on August 20, making GG Tronics a subsidiary of CG Power. The acquisition involved a 55% stake in GG Tronics through a mix of equity shares and preference shares.

CG Power and Industrial Solutions has successfully acquired GG Tronics for Rs 319 crore, the company announced.

According to a filing with the Bombay Stock Exchange (BSE) on Tuesday, CG Power confirmed that the acquisition was completed on August 20.

Last month, CG Power entered definitive agreements to acquire a 55% stake in GG Tronics through a combination of equity share purchases from the promoters of GG Tronics and subscription to compulsorily Convertible Preference Shares, for a total consideration of Rs 319.38 crore. Consequently, GG Tronics is now a subsidiary of CG Power, effective August 20, 2024.

(With inputs from agencies.)