CG Power acquisition likely to double revenues of Tube Investments

But turnaround could stretch its finances in short term

Topics
CG power | Tube Investments | Mergers & Acquisitions

Krishna Kant  |  Mumbai 

Tube Investments of India (TI India) and its parent Murugappa Group is no stranger to mergers & acquisitions. Over the years, it has taken the acquisition route to enter new industries or fortify its market position in its core business. The CG Power acquisition would, however, be of the biggest for the group.

The deal will transform TI India into one the country’s largest capital goods makers and will more than double its revenues. It will also mark the group foray into electrical equipment segment. TI is currently an engineering and metal product company and is a tier-I vendor ...
First Published: Sat, August 08 2020. 06:10 IST