Deals31 Mar 2025, 06:35 pm
GE Power India Ltd Completes Sale of Hydro Business to GE Vernova Hydro Power India Private Limited
AI Summary
GE Power India Ltd has completed the sale and transfer of its Hydro Business to GE Vernova Hydro Power India Private Limited (previously known as GE Power Electronics (India) Private Limited) as of 31 March 2025. The transaction was carried out in accordance with the business transfer agreement dated 15 July 2024, as amended. As a result, Mr. Senthil Velan, the Business head- hydro, will no longer serve as senior management of the Company from the aforementioned date.
Key Highlights
- GE Power India Ltd sells Hydro Business to GE Vernova Hydro Power India Private Limited
- Transaction completed on 31 March 2025
- Based on business transfer agreement dated 15 July 2024, as amended
- Mr. Senthil Velan, Business head- hydro, ceases to be senior management
- Transfer executed in accordance with applicable laws and regulations