Siemens to acquire a 99% stake in C&S Electric for $295m.

Siemens, a German multinational conglomerate is set to acquire a 99% stake in C&S Electric, a provider of electrical and electronic equipment for infrastructure, power generation, transmission, and distribution for $295m. Closing of the acquisition is subject to regulatory approvals. In the future, Siemens envisions this partnership to pave the way for the establishment of a design and manufacturing hub in India, supporting the export of electrification solutions to fast-developing markets around the world. “The addition of C&S Electric’s products, sales network, manufacturing units, and a highly competent employee base will complement and strengthen the range of Siemens’ offering. This will bolster our portfolio not only in India but also for export to competitive international markets in line with our growth strategy,” Sunil Mathur, Siemens Managing Director, and CEO.