Murugappa Group firm Tube Investments of India Ltd (TIIL) has agreed to invest Rs 700 crore in CG Power and Industrial Solutions Ltd for a 51 per cent stake, the scam-hit company said on Friday.
The acquisition of the controlling interest in CG Power by the Murugappa Group is to be executed though a binding swiss challenge bid to the lenders of CG Power under RBI’s directions for resolution of stressed assets.
Cyril Amarchand Mangaldas advised
Trilegal acted as the legal counsel to
2020-08-07
Category:
Deal value: INR 700 crores (USD 93.3 million)
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