{"id":370851,"date":"2020-08-31T12:13:35","date_gmt":"2020-08-31T06:43:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=370851"},"modified":"2020-08-31T12:13:35","modified_gmt":"2020-08-31T06:43:35","slug":"murugappa-groups-tube-india-makes-winning-bid-for-cg-power-in-swiss-challenge","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/murugappa-groups-tube-india-makes-winning-bid-for-cg-power-in-swiss-challenge\/","title":{"rendered":"Murugappa Group&#8217;s Tube India makes winning bid for CG Power in Swiss challenge"},"content":{"rendered":"<p>Murugappa group&#8217;s Tube Investments of India Ltd has been declared as the successful bidder for acquiring the majority stake in stressed power equipment maker CG Power and Industrial Solutions Ltd, the company said in a stock exchange filing on Friday night.<\/p>\n<p>Tube emerged the successful bidder following a Swiss challenge bidding process, which was initiated by the lenders to CG Power, after the company had on 7 August said that its board had approved an investment of Rs700 crore by Tube Investments for a 56.61% stake.<\/p>\n<p>The bid is, however, subject to the approval of the Competition Commission of India and also the lenders, said the company in a stock exchange notification.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Murugappa group&#8217;s Tube Investments of India Ltd has been declared as the successful bidder for acquiring the majority stake in stressed power equipment maker CG Power and Industrial Solutions Ltd, the company said in a stock exchange filing on Friday night. Tube emerged the successful bidder following a Swiss challenge bidding process, which was initiated by the lenders to CG Power, after the company had on 7 August said that its board had approved an investment of Rs700 crore by Tube Investments for a 56.61% stake. The bid is, however, subject to the approval of the Competition Commission of India [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,237],"tags":[],"class_list":["post-370851","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-power-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/370851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=370851"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/370851\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=370851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=370851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=370851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}