GE T&D to sell global engineering operation division to GE India Industrial for Rs 87 crore
New Delhi: GE T&D India on Saturday said it has agreed to sell its Global Engineering Operations Division (India for Global) to GE India Industrial Private Ltd for a consideration of Rs 87.3 crore. “Subject to approval of shareholders, the company has agreed to sell its Global Engineering Operations Division (India for Global) to GE India Industrial Private Ltd together with the assets and manpower comprised therein along with its corresponding liabilities on slump sale basis on an ‘as is where is’ basis,” a BSE filing said,
The activities of the said business were to provide engineering and product and project design services to global affiliates of GE Grid Solutions and hence non-core to the Company’s business, it added.
