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9 months ago
BRIEF-Crompton Greaves gets binding offer for acquisition of its B2B Automation business
November 7, 2016 / 11:43 AM / 9 months ago

BRIEF-Crompton Greaves gets binding offer for acquisition of its B2B Automation business

Nov 7 (Reuters) - Crompton Greaves Ltd

* Says receipt of binding offer for acquisition of the company's B2B automation business

* Offer at enterprise value of 120 million euros from Alfanar

* Says completion of acquisition by Jan 31, 2017

* Says consequent to acceptance of binding offer, automation biz of co in India will be hived off to a unit to be incorporated by co Source text: bit.ly/2fvcJZm Further company coverage: (Bengaluru newsroom)

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