The Competition Commission of India (CCI) has approved the acquisition of electrical equipment maker C&S Electric Limited by Siemens Limited.
The proposed combination envisions the acquisition of 100% of the share capital of C&S Electric Limited (C&S) by Siemens Limited (Siemens India).
“At the time of closing of the proposed combination, the scope of business of C&S shall include low-voltage (LV) switchgear components and panels, LV and medium voltage (MV) power busbars as well as protection and metering devices of C&S,” said corporate affairs ministry in a release.
“Certain other C&S businesses, such as MV switchgear and package sub-station, lighting, diesel generating sets, engineering, procurement, and construction business and the “Etacom” busbars business will be retained by the existing promoters of C&S,” it added.
Siemens India focuses on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. It also supplies smart mobility solutions for rail and road transport and infrastructure solutions for Smart Cities.
C&S manufactures a range of electrical switchgear, power protection, and electrical distribution products. C&S also has an electrical contracting business that performs turnkey solutions for industrial and commercial electrification, substations, and power plants. Besides, C&S is engaged in the design and execution of grid-connected renewable power plants.
C&S Electric has five operational RE (four wind and one solar power) projects with a combined capacity of 174 MW. The 18 MW Ramnathapuram project in Tamil Nadu is the company’s first venture into solar power. It was undertaken through Crescent Power Limited, a subsidiary of CESC, and was commissioned in January 2016.
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