Deals16 Jul 2024, 09:32 pm
GE Power India Ltd Transfers Hydro and Gas Power Businesses to GE Affiliates
AI Summary
GE Power India Ltd has executed Business Transfer Agreements for the sale and transfer of its Hydro Business and Gas Power Business on a going concern basis, through slump sales, to GE Power Electronics (India) Private Limited and GE Renewable Energy Technologies Private Limited, respectively. This development comes after the company's initial announcement on 10 July 2024.
Key Highlights
- GE Power India Ltd has transferred its Hydro Business to GE Power Electronics (India) Private Limited.
- The company has also sold its Gas Power Business to GE Renewable Energy Technologies Private Limited.
- Both transactions were executed on 15 July 2024 as going concern businesses through slump sales.
- This move follows the company's earlier announcement regarding the sale and transfer of these businesses.
- The sale and transfer of these businesses will have implications for GE Power India Ltd's financial performance and strategic direction.