Crompton Greaves completes acquisition of PTS for 30 mn pounds

MUMBAI: Electrical equipment maker Crompton Greaves today said it has completed the acquisition of UK-based Power Technology Solutions (PTS) for 30 million pound (nearly Rs 202 crore).

The company has just concluded an arrangement for the acquisition of PTS having an enterprise value of 30 million pound, Crompton Greaves said in a filing to the Bombay Stock Exchange (BSE).

PTS is a high voltage electrical engineering company which provides consultancy, technical and engineering support to regional electricity companies, the filing added.

Crompton Greaves is part of Avantha Group, which is engaged in designing, manufacturing and marketing technologically advanced electrical products and services related to power generation, transmission and distribution, besides executing turnkey projects.
Shares of Crompton Greaves were trading at Rs 259 on the BSE, up 2.55 per cent from previous close.