GE India Industrial Private Limited completed the acquisition of Global Engineering Operations Division of GE T&D India Limited.
March 30, 2022
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GE India Industrial Private Limited agreed to acquire Global Engineering Operations Division of GE T&D India Limited (BSE:522275) for INR 1.4 billion on January 15, 2022. Total consideration of INR 873 million, subject to adjustments as envisaged in the agreement on completion date. The GEOD Business had a turnover of INR 725.7 million during the financial year ended March 31, 2021. GE T&D India is in the process of obtaining the relevant approval from the Shareholders. On January 24, 2022, GE T&D India's board of directors approved to sell its Global Engineering Operations Division (GEOD) to GE India Industrial Private Limited, together with the assets, manpower and its corresponding liabilities, on a slump sale basis at a consideration of Rs.1,406 million, subject to adjustments as envisaged in the agreement on completion date. The transaction is expected to complete on March 31, 2022. RBSA Capital Advisors LLP acted sell-side valuation advisor to GE T&D India. PricewaterhouseCoopers acted as financial advisor and provided Deal valuation advisory to GE India Industrial Private Limited.
GE India Industrial Private Limited completed the acquisition of Global Engineering Operations Division of GE T&D India Limited (BSE:522275) on March 31, 2022.
GE T&D India Limited is an India-based company that is engaged in the power transmission and distribution business. The Company's business activity relates to products, projects and systems for electricity transmission and related activities. Its products and services include power electronics, energy management, high voltage equipment, industrial digital, projects and services, automation and protection, new technologies, and asset management. Its product portfolio ranges from medium voltage to ultra-high voltage (1200 kV) for power generation, transmission and distribution, industry and infrastructure markets. The Company offers a wide range of products and related services that include power transformers, circuit breakers, gas insulated switchgears, instrument transformers, substation automation equipment, digital software solutions, turnkey solutions for substation engineering and construction, flexible AC transmission systems (FACTS), high voltage DC and maintenance support.