For cash consideration of Rs 440 crore
The Board of Siemens at its meeting held on 27 May 2022 has approved the sale and transfer of the company's large drives application business (LDA business) (portfolio companies segment) to Siemens Large Drives India (a subsidiary of Siemens Large Drives GmbH, which in turn is a subsidiary of Siemens AG), as a going concern on a slump sale basis from 01 July 2022 for a cash consideration of Rs 440 crore.Powered by Capital Market - Live News