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Elsewedy acquires CG Power Indonesia shares

May 26, 2021
Companies
Posted by Patrick Haddad

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

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