GE Power India to acquire 50% equity stake in NTPC GE Power Services
GE Power India’s board on Wednesday approved the acquisition of 50 per cent stake in NTPC GE Power Services Pvt Ltd for Rs 7.2 crore.
“Board of directors of GE Power India Ltd in its meeting held today i.e., 14 April, 2021 has approved acquisition of 50 per cent of the issued and paid-up share capital of NTPC GE Power Services Pvt Ltd (NGSL),” a BSE filing said.
It also stated that the cost of acquisition or the price at which the shares are acquired is a cash consideration of Rs7,20,00,000.
The acquisition of shares of NGSL from GEPower Systems GmbH is a related party transaction as the Company and GE Power Systems GmbH are GE Group Affiliates.
