Attracted by India’s electrification drive, Siemens AG will acquire New Delhi-based C&S Electric Limited for around Rs.2,100 crore (euro 267 million). Some Indian states are recording power distribution losses of as high as 50%. “The scope of the acquisition comprises the Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium voltage power busbars as well as protection and metering devices businesses. Other businesses of the company such as medium voltage switchgear and package sub-station, lighting, diesel generating sets, EPC (Engineering, Procurement and Construction) and the Etacom busbars business will be retained by the owners," the statement added. Ambit Private Limited is the exclusive financial advisor to C&S Electric.

Source: Mint January 24, 2020 12:43 UTC