CG announces sale of B2B automation business to Alfanar

Avantha Group Company CG Power and Industrial Solutions Limited (formerly Crompton Greaves Limited) has announced the sale of its B2B automation business to Alfanar for an enterprise value of Euro 120 million. The transfer of the business is effective from March 6, 2017. The sale of the automation business includes ZIV Aplicaciones y Tecnologia, S.L. (Spain) and its subsidiaries, along with the related automation businesses in the UK, Ireland, France and India. Once the sale is completed, ZIV Automation India Limited, the wholly owned subsidiary owning the India automation business, will cease to be a subsidiary of the company, and will be a wholly owned subsidiary of ZIV Aplicaciones y Tecnologia, S.L, Spain.

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