May 7, 2019 / 4:05 AM / 6 months ago

BUZZ-India's CG Power falls after Hungarian asset sale fails

** CG Power and Industrial Solutions Ltd’s shares fall as much as 9.8 pct to 34 rupees — worst day since February 26

** Co terminates here divestment deal for some Hungarian assets owned by its unit

** Deal with Hungary’s Ganz Villamossagi Zrt and Alester Holdings Limited included divestment of assets and shares of co’s business in the country, except switchgear business

** “We wish to inform you that certain conditions subsequent agreed to be performed between the parties have not been met,” co says in exchange filing

** CG Power’s shares are down 15.9 pct YTD as of last close

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