Siemens Completes the INR 2,100 Cr Acquisition of C&S Electric
The long anticipated acquisition of C&S Electric by Siemens has been completed today by acquiring a total of 99.22% stakes in the company. Regulatory approval from Competition Commission of India regarding this acquisition was received in August 2020.
Siemens in the press release said acquisition addresses rising demand for low-voltage power distribution components in India. The acquisition will not only help Siemens in gaining access to the Indian market but also create an export hub.