CCI approves proposed acquisition of C&S Electric by Siemens
Aug 20, 2020
New Delhi [India], Aug 20 : The Competition Commission of India (CCI) on Thursday approved the proposed acquisition of C&S Electric Limited by Siemens Limited.
The proposed combination envisages the acquisition of 100 per cent 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. Certain other businesses of C&S, 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," the Ministry of Corporate Affairs said in a release.
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. In addition, C&S is also engaged in the design and execution of grid-connected solar photo-voltaic power plants.
