The Competition Commission of India (CCI) has approved the proposed acquisition of C&S Electric Limited by Siemens Limited.
The proposed deal envisages the acquisition of 100 per cent of the share capital of C&S Electric Limited (C&S) by Siemens Limited (Siemens India). According to the ministry of corporate affairs, 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 substation, lighting, diesel generating sets, engineering, procurement and construction business and the Etacom busbars business will be retained by the existing promoters of C&S.