Crompton Greaves buys Hungarian firms

Crompton Greaves Ltd said on Wednesday it has acquired businesses of two Hungary-based companies for about euro35 million.

On Tuesday, the company concluded an arrangement for the acquisition of the transformers, gas insulated switchgear, rotating machines and contracting businesses of Ganz Transelektro Villamossagi Zrt, the company informed the Bombay Stock Exchange.

Crompton Greaves has also acquired the business of Transverticum kft engaged in design, commissioning and commercial activity, it added.

The shares of the company were trading at Rs 925.05, up 3.79 per cent at the BSE.

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