Siemens Limited acquired 99.22 per cent  equity in C&S Electric Limited

Siemens Limited has completed the acquisition of 99.22 per cent equity shares in C&S Electric Limited from the company’s promoters for Rs 21 billion. The transaction is aimed at gaining access to the Indian market and also creating an export hub. Regulatory approval was received in August 2020 from the Competition Commission of India, following which Siemens has closed the acquisition.