The Competition Commission of India (CCI) has given nod to the proposed acquisition of C&S Electric by Siemens. As per a statement issued by Siemens in January, it had inked an agreement to acquire 99% equity in New Delhi-based C&S Electric.
Giving nod to the deal, the CCI said wrote in a tweet that it “approves proposed acquisition of C&S Electric by Siemens.”
As per the agreement signed between the two firms, Siemens will acquire Indian operations of C&S Electric’s low-voltage switchgear components and panels, low and medium-voltage power busbars as well as protection and metering devices businesses.
Full Content: Construction Week Online
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