Elsewedy acquires CG Power Indonesia shares
Elsewedy Transformers has acquired the majority stake in CG Power Systems Indonesia.
Elsewedy Transformers Indonesia Holding Ltd, a subsidiary of Egypt’s El Sewedy Electric Co S.A.E., has acquired 95% of the shares in CG Power Systems Indonesia.
CG Power Systems Indonesia, a subsidiary of CG Power Systems Belgium NV, manufactures power transformers in the region.
This acquisition represents Elsewedy’s first major investment in Southeast Asia.
Hiswara Bunjamin & Tandjung advised Elsewedy Transformers Indonesia Holding Ltd on the deal.
Source: Global Legal Chronicle
Photo (for illustrative purposes): Jakarta / David Mark / Pixabay / Free for commercial use