Siemens completes the acquisition of C&S Electric in India

Siemens Limited has closed the acquisition of C&S Electric Limited after receiving the approval of Competition Commission of India on August 20, 2020 and the successful completion of further closing steps. Key Highlights:

- Acquisition addresses rising demand for low-voltage power distribution in India

- Apart from gaining access to the Indian market, the transaction is also aimed at creating an export hub

- Regulatory approval from Competition Commission of India was received in August 2020

- Siemens has acquired 99.22% (approximately) of C&S Electric Limited from its promoters for Rs. 2,100 crore

Shares of SIEMENS LTD. was last trading in BSE at Rs.1850.15 as compared to the previous close of Rs. 1907.25. The total number of shares traded during the day was 37552 in over 2460 trades.

The stock hit an intraday high of Rs. 1944.2 and intraday low of 1837.45. The net turnover during the day was Rs. 71279407.

Source : Equity Bulls

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