Siemens to acquire C&S Electric for Rs 2,100 crore

Siemens has signed an agreement to acquire New Delhi-based C&S Electric Ltd, a leading provider of electrical and electronic equipment, for Rs 2,100 crore (US$ 300.47 million).

This acquisition will help in strengthening the company's position as a major supplier of low-voltage power distribution and electrical installation technology in one of the world's fastest-growing economies.

As per the agreement between two companies, the German giant will acquire around 99 per cent of the equity share capital of C&S Electric Ltd for around Rs 2,100 crore (US$ 300.47 million).

Though, the deal's closing is subject to regulatory approvals.

The company intends to pave its way for the establishment of a design and manufacturing hub in India through this partnership, supporting the export of electrification solutions to fast-developing markets around the world.

Under the agreement, the Indian operations of C&S Electric's low-voltage switchgear components and panels, low and medium voltage power busbars as well as the protection and metering devices businesses will be covered.

The company will be able to retain its other businesses such as medium voltage switchgear and package sub-station, lighting, diesel generating sets, EPC (Engineering, Procurement and Construction) and the Etacom busbars business. 

In India, C&S Electric has experience of more than 50 years and will continue to operate under its own brand name.

Siemen's position in the market will be enhanced by the combination of both company's portfolios, allowing it to better serve customers requiring electrification in areas including construction, industry, data centres, smart campuses and other city infrastructure.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.