Siemens India Ltd gets CCI approval to acquire C&S Electric India
The Competition Commission of India (CCI) has approved the proposed acquisition of C&S Electric Ltd by Siemens Ltd. The proposed combination envisages the acquisition of 100% of the share capital of C&S Electric Ltd (C&S) by Siemens India Limited.
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. Other businesses of C&S, such as MV switchgear and package sub-station, lighting, diesel generating sets, engineering, procurement, and construction business and the “Etacom” busbars business will be retained by the existing promoters of C&S, an official release said.
“Certain other C&S businesses, such as MV switchgear and package sub-station, lighting, diesel generating sets, engineering, procurement, and construction business and the “Etacom” busbars business will be retained by the existing promoters of C&S,” it added.
Earlier in the month of Jan this year, in a step to meet the increasing demand for electrification across the industry, infrastructure, and buildings in India, Siemens had signed an agreement to acquire New Delhi-based C&S Electric Limited.
Siemens India focuses on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalization in the process and manufacturing industries. It also supplies smart mobility solutions for rail and road transport and infrastructure solutions for Smart Cities.
C&S Electric has more than 50 years of experience in India and will continue to operate under its own brand name. The combination of the portfolios of the two companies will enhance Siemens’s position in the business, enabling it to better serve customers requiring electrification in areas including construction, industry, data centers, smart campuses, and other city infrastructure.
C&S manufactures a range of electrical switchgear, power protection and electrical distribution products. C&S also has an electrical contracting business which performs turnkey solutions for industrial and commercial electrification, sub-stations and power plants. In addition, C&S is also engaged in the design and execution of grid connected solar photo-voltaic power plants, the release added.