GEIIPL To Acquire GE T&D India's Global Engineering Business
The listed entity of GE's Grid Solutions business in India, GE T&D India has planned to sell its Global Engineering Operations Division (GEOD Business) to GE India Industrial Private Ltd (GEIIPL). The engineering business would be sold through a slump sale for a cash consideration of Rs 140.6 crore.Â
In the statement, the firm said that the expected date of completion of the sale is March 31, 2022, subject to satisfaction of identified conditions precedents and approval of shareholders of the Company for the related party transaction with GEIIPL.