/ Crompton Greaves Spikes 3%, Signs Share Purchase Agreement ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 7 March 2017

Indian bourses opened in green on Tuesday. Nifty is currently trading in red, being down by 16 point or 0.19% at 8946 levels.

BSE Sensex is also trading in red, being down by 50 points or 0.17% at 28998 levels.

Crompton Greaves is gaining in trade at morning hours of Tuesday’s session as it has signed a share purchase agreement with Alfanar Electric Systems Co., Saudi Arabia for the sale and acquisition of the company’s B2B Automation business comprising of ZIV Aplicaciones y Tecnologia, S.L. (Spain) , its subsidiaries along with related automation businesses in India, UK, Ireland & France for an enterprise value of Euro 120 million, subject to customary conditions (Sale) from Alfanar. 

Crompton Greaves along with its subsidiary, CG International BV has completed the sale with effect from March 6, 2017 (European time) upon the execution of share purchase agreements.

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