CG Power and Industrial Solutions Limited (NSEI:CGPOWER) signed a letter of intent to acquire 90% stake in BTW-Atlanta Transformers India Private Limited from Baoding Tianwei Baobian Electric Co.,Ltd. (SHSE:600550) for INR 1.6 billion on February 14, 2025. A cash consideration of INR 1.65 billion will be paid by CG Power and Industrial Solutions Limited. As part of consideration, INR 1.65 billion is paid towards common equity of BTW-Atlanta Transformers India Private Limited.

CG Power and Industrial Solutions Limited (NSEI:CGPOWER) cancelled the acquisition of 90% stake in BTW-Atlanta Transformers India Private Limited from Baoding Tianwei Baobian Electric Co.,Ltd. (SHSE:600550) on May 7, 2025.
Consequent to the exercise of the right of first refusal, the Company will be unable to consummate the transaction to purchase shares of BTW India from BTW India?s majority shareholder i.e., Baoding Tianwei Baobian Electric Co., Ltd.