Murugappa Group to acquire a 56% stake in CG Power and Industrial Solutions for $95m.

Murugappa Group, a business conglomerate, agreed to acquire a 56% stake in CG Power and Industrial Solutions, an Indian multinational company engaged in design, manufacturing, and marketing of products related to power generation, transmission, and distribution, for $95m. The takeover follows lenders to CG Power agreeing to a one-time loan restructuring.