Cummins India, the Pune-based power solutions provider, has picked up 40.5 per cent in CG Newage Electrical, a Crompton Greaves group company, for Rs 17.86 crore.
For the purpose, Cummins has picked up shares from two companies - Crompton Greaves and Janpath Investments & Holdings.
Crompton Greaves, one of the largest shareholders of CG Newage, has sold its 38 per cent stake in CG Newage Electrical to Cummins India for Rs 17.65 crore.
The deal was struck at Rs 220.50 a share.
