CG Power and Industrial Solutions has finalised its acquisition of G G Tronics for Rs 319 crore, according to a company statement.
CG Power confirmed that the acquisition was completed on Aug. 20, in a filing with the on Tuesday.
Last month, the company had entered into definitive agreements to acquire a 55% stake in G G Tronics. This stake was acquired through a combination of purchasing equity shares from G G Tronics' promoters and subscribing to compulsorily convertible preference shares, totaling 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 Aug. 20, 2024, it said.
(With Inputs From PTI.)
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