GE Power to acquire 50 per cent equity stake in NGSL from GE Power Systems GmbH

GE Power India Limited’s board has approved the acquisition of 50 per cent stake in NTPC GE Power Services Private Limited (NGSL) for Rs 72 million.

NGSL is a 50:50 joint venture between NTPC Limited and GE Power Systems GmbH. The acquisition of shares by GE Power India from GE Power Systems GmbH is a related party transaction as the two companies are GE Group Affiliates. The indicative time period for completion of the acquisition is tentatively by April 30, 2021. Upon completion of the acquisition of shares from GE Power Systems GmbH, the company would enter into renovation and modernisation of thermal power plants segment and partner with NTPC Limited.