CG Power Faces Setback in Acquisition Bid for Majority Stake in BTW India

CG Power and Industrial Solutions Ltd has encountered obstacles in its attempt to acquire a 90 percent stake in BTW-Atlanta Transformers India Private Limited. Despite securing the position of the highest bidder, the company has been unable to finalize the transaction due to regulatory and procedural challenges.

 

The acquisition process, valued at approximately 165 crore rupees, was conducted through an online bidding platform facilitated by the China Beijing Stock Exchange. However, the deal has not progressed as expected, as a minority shareholder in BTW India holds a right of first refusal, which may block CG Power from completing the purchase.

 

BTW India specializes in transformer and reactor manufacturing, with an established production capacity of 12,000 MVA. The acquisition was intended to strengthen CG Power’s presence in the electrical equipment sector, providing opportunities for expansion and technological advancements.

 

CG Power has stated that while the acquisition remains uncertain, the company will continue exploring alternative growth opportunities to enhance its market position. The firm remains committed to scaling its industrial solutions and maintaining leadership within the sector.

 

Acquisition Update:

Sources: Business Standard, Economic Times, Moneycontrol, China Beijing Stock Exchange, Financial Express.