CG Power and Industrial Solutions on Friday informed the exchanges that on the recommendations of the Hungary Business Divestment Committee, its board has accepted the binding offer for sale of the assets and shares of its Hungary entity. Its overseas step-down subsidiary CG Electric Systems Hungary Zrt has entered into a deal (excluding the switchgear business) for an enterprise value of €38 million with prospective buyers Ganz Villamossagi Zrt and Alester Holdings Ltd. None of these buyers belong to the promoter group/group companies of CG Power Industrial and the transaction is not a related-party transaction, the company said in a statement. The transaction is subject to regulatory and other customary approvals. The stock of CG Power and Industrial jumped 6.7 per cent at ₹77.05 on the NSE.