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Oil Field Equipment Market 2020 Comprehensive Analysis, Future Estimations, Growth Drivers and Forecast to 2026 – KSU

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GE T&D India gains on sale of Global Engineering Operations division

GE T&D India rose 2.92% to Rs 128.50 after the company agreed to sell its Global Engineering Operations Division to GE India Industrial for a cash consideration of Rs 87.3 crore.
In a filing made on Saturday (16 January 2021), GE T&D India said that it had agreed to sell its Global Engineering Operations Division (India for Global) to GE India Industrial together with the assets and manpower comprised therein alongwith its corresponding liabilities on slump sale basis on an as is where is basis. The company will receive a cash consideration of Rs 87.3 crore on completion of sale of business.
GE T&D India said that the sale would help management to focus on its core business activities besides realizing cash from sale. ....

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