Elsewedy completed the acquisition of a 95% stake in CG Power Systems Indonesia from CG Power Systems Belgium.

Elsewedy, the multinational electric company, completed its acquisition of a 95% stake in CG Power Systems Indonesia, a manufacturer of power and autotransformers, from CG Power Systems Belgium, an industrial equipment supplier. Financial terms were not disclosed. "This acquisition marks our strategic entry into Indonesia, and we believe the two companies complement one another almost perfectly and boast a unique product portfolio," Hany Gamal, Elsewedy Electric Indonesia Managing Director.