Siemens to acquire C&S Electric for Rs 2,100 crore
Siemens India has agreed to acquire Delhi-based electrical and electronic equipment maker C&S Electric for cash consideration of Rs 2,100 crore in its biggest acquisition in the country till date outside the group.The deal will help Siemens strengthen position as a supplier of low-voltage power distribution and electrical installation technology in the country. “Joining forces with C&S Electric allows us to bring a more comprehensive portfolio that addresses needs of a very important market,” said Cedrik Neike, member of the managing board of Siemens AG and CEO of the German engineering conglomerate’s smart Infrastructure business.The closing of the acquisition is subject to regulatory approvals and is likely to be completed by the end of D.....