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

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