PR and marketing , Consumer Electronics

CG Announces Sale of B2B Automation Business to Alfanar

07.03.2017 - 13:51:21

Business Wire India
Avantha Group Company, CG Power and Industrial Solutions Limited (Formerly Crompton Greaves Limited) announces the sale of its B2B Automation business to Alfanar (the Buyer) for an enterprise value of 120 million Euros. The transfer of the business is effective from March 6, 2017 (CET). The sale of the Automation business includes ZIV Aplicaciones y Tecnologia, S.L. (Spain), its subsidiaries along with the related Automation businesses in UK, Ireland, France and India (ZIV). Upon completion of the Sale, ZIV Automation India Ltd, the wholly owned subsidiary owning the India Automation Business will cease to be a subsidiary of the Company and will be a wholly owned subsidiary of ZIV Aplicaciones y Tecnologia, S.L, Spain.
 
Headquartered in Riyadh, Saudi Arabia, with 22,000+ employees and USD 2.5 billion turnover, Alfanar is a major player in the electrical manufacturing business, including the manufacturing of electrical construction products as well as related engineering services. Alfanar operates in construction and manufacturing businesses, design & development centers with a number of facilities in the Middle East, Asia and Europe.
 
Commenting on the deal


About CG Power and Industrial Solutions Limited

Avantha Group Company CG Power and Industrial Solutions Limited (Formerly Crompton Greaves Limited) is a global pioneering leader in the management and application of electrical energy. CG provides end-to-end solutions that meet all electrical needs of its customers. CG’s offerings include electrical products, systems and services for utilities, power generation and industries.

For more information on CG, please visit: www.cgglobal.com
 
About Avantha 

Avantha Group’s entities in diversified sectors include CG Power and Industrial Solutions Limited (power transmission and distribution equipment and services), BILT (paper and pulp), The Global Green Company Limited (food processing), Biltech Building Elements Limited (infrastructure), Avantha Power (energy), Avantha Business Solutions Limited (IT and ITES), Jg Glass (glass containers), Avantha Agritech (farm forestry) and  Avantha Ergo (insurance).

For more information on Avantha, please visit: www.avanthagroup.com
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