CG Power and Industrial completes acquisition of G G Tronics

Chennai, Aug 20 (PTI) 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.

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.

Pursuant to the completion of the said acquisition, GG Tronics is now a subsidiary of the company with effect from August 20, 2024, it said.