CG Power Sells 51% Stake in Indonesian Subsidiary CPSI for IDR 1
CG Power is selling its 51% stake in Indonesian subsidiary CPSI to PLNE for IDR 1. The deal is expected to close by March 31, 2026. CPSI is non-operational and has no adverse financial impact expected. The buyer is an external entity.
The subsidiary was non-operational and the transaction is not expected to have any adverse financial impact, thus the impact on the company is considered low.
The sale of a non-operational subsidiary for a nominal amount with no expected financial impact suggests a neutral sentiment. It's a cleanup of assets rather than a significant strategic move.
CG Power and Industrial Solutions Limited announced the sale of its 51% stake in its Indonesian subsidiary, PT Crompton Prima Switchgear Indonesia (CPSI), to PT Prima Layanan Nasional Enjiniring (PLNE). The transaction, formalized via a Conditional Shares Purchase Agreement on March 5, 2026, is for a nominal consideration of IDR 1 (One Indonesian Rupiah).
CPSI, previously a joint venture between CG International Holdings Singapore Pte Ltd. (CGS), a wholly owned foreign subsidiary of CG Power, and PLNE, held a 51% and 49% stake respectively. Following the completion of this sale, CPSI will cease to be a subsidiary of CGS and a step-down subsidiary of CG Power.
The company stated that this transaction is not expected to have any adverse financial impact on its financial statements. CPSI has been non-operational, and its contribution to the last financial year's turnover, revenue, income, or net worth was NIL. The expected completion date for the sale is March 31, 2026. The buyer, PLNE, is an Indonesian corporation and does not belong to the promoter group or any group companies of CG Power. The transaction is not considered a related party transaction.
What to do with a filing like this
CG Power and Industrial Solutions Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by CG Power and Industrial Solutions Limited. Read the original for the full detail.