# Crompton Greaves receives binding offer for B2B Automation Business

Crompton Greaves received a binding offer from Alfanar for the acquisition of its B2B Automation Business, comprising ZIV Aplicaciones y Technologia and related automation businesses, at an enterprise value of EUR 120 million. Completion is expected by 31 January 2017.

- Type: Acquisition
- Announced: 2016-11-07
- Value: $132.0M (120.0M EUR)
- Status: announced
- Products: B2B automation business, ZIV automation products
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Crompton Greaves](https://endata.com/companies/16314.md) (target)
- [Alfanar](https://endata.com/companies/16315.md) (acquirer)
- [ZIV Aplicaciones y Technologies](https://endata.com/companies/16331.md) (target)

## Sources

- [business-standard.com](https://www.business-standard.com/article/news-cm/crompton-greaves-receives-binding-offer-for-acquisiton-of-its-b2b-automation-business-116110700934_1.html), 2016-11-07: "Crompton Greaves announced that it has received a binding offer for acquisition of the Company's B2B Automation Business."
- [business-standard.com](https://www.business-standard.com/content/b2b-manufacturing-industry/alfanar-buys-crompton-greaves-automation-biz-for-rs-880-crore-116110800839_1.html), 2016-11-08: "Saudi firm Alfanar has acquired Crompton Greaves’ (CG) B2B automation business at an enterprise value of Euro 120 million (about Rs 880 crore)."

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.