GE India Industrial Private Limited completed the acquisition of Global Engineering Operations Division from GE T&D India Limited.
March 30, 2022
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GE India Industrial Private Limited agreed to acquire Global Engineering Operations Division from GE T&D India Limited (BSE:522275) for INR 1.4 billion on January 24, 2022. Business Transfer Agreement is expected to be executed by January 31, 2022. The GEOD Business had a turnover of INR 725.7 billion during the financial year ended March 31, 2021. The net book value of the fixed assets of the GEOD Business was INR 103.1 billion as at March 31, 2021. Subject to satisfaction of identified conditions precedents and approval of shareholders of the Company for the related party transaction with GEIIPL, the expected date of completion of sale is March 31, 2022. RBSA Advisory Pvt. Ltd acted as valuation advisor to GE T&D India in the transaction.
GE India Industrial Private Limited completed the acquisition of Global Engineering Operations Division from GE T&D India Limited (BSE:522275) on March 31, 2022.
GE T&D India Limited is an India-based company that is engaged in the power transmission and distribution business. The Company's business activity relates to products, projects and systems for electricity transmission and related activities. Its products and services include power electronics, energy management, high voltage equipment, industrial digital, projects and services, automation and protection, new technologies, and asset management. Its product portfolio ranges from medium voltage to ultra-high voltage (1200 kV) for power generation, transmission and distribution, industry and infrastructure markets. The Company offers a wide range of products and related services that include power transformers, circuit breakers, gas insulated switchgears, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction, flexible AC transmission systems (FACTS), high voltage DC and maintenance support.