Siemens completes the acquisition of C&S Electric in India

Siemens has acquired about 99.22 per cent of C&S Electric Limited from its promoters for Rs 21 billion.

The transaction is aimed at gaining access to the Indian market and also creating an export hub. A regulatory approval was received in August 2020 from the Competition Commission of India. Competition Commission of India has approved this acquisition following which Siemens Limited has closed the acquisition of C&S Electric Limited after completion of further closing steps.