Stalwart Advisors

CG Concludes ZIV Deal

We had earlier shared that CG had received and accepted a binding offer for acquisition of the company’s B2B Automation business, comprising of ZIV applications y Tecnologia, S.L. (Spain), its subsidiaries along with the related automation businesses in UK, Ireland, France and India at an enterprise value of Euro 120 million, subject to customary conditions (sale) from Alfanar Electric systems Co, Saudi Arabia.

CG has now informed that the company along with its subsidiary, CG Interational BV, has completed the sale w.e.f March 6, 2017 (European time), upon the execution of Share Purchase Agreements and other related transactional documents with Alfanar Electric LLC and ZIV Aplicaciones y Tecnologia, S.L.

The proceeds from the sale will be used to retire Company’s International debt.


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