CCI approves proposed acquisition of C&S Electric Limited by Siemens Limited- (Press Information Bureau) (20 Aug 2020)

MANU/PIBU/2678/2020

MRTP/ Competition Laws

The Competition Commission of India (CCI) approves proposed acquisition of C&S Electric Limited by Siemens Limited. The proposed combination envisages acquisition of 100% of the share capital of C&S Electric Limited (C&S) by Siemens Limited (Siemens India).

At the time of closing of the proposed combination, the scope of business of C&S shall include low-voltage (LV) switchgear components and panels, LV and medium voltage (MV) power busbars as well as protection and metering devices of C&S. Certain other businesses of C&S, such as MV switchgear and package sub-station, lighting, diesel generating sets, engineering, procurement and construction business and the "Etacom" busbars business will be retained by the existing promoters of C&S.

Siemens India focuses on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. It also supplies smart mobility solutions for rail and road transport and infrastructure solutions for Smart Cities.

C&S manufactures a range of electrical switchgear, power protection and electrical distribution products. C&S also has an electrical contracting business which performs turn key solutions for industrial and commercial electrification, substations and power plants. In addition, C&S is also engaged in the design and execution of grid connected solar photo-voltaic power plants.

Tags : SHARE CAPITAL ACQUISITION APPROVAL