# CG Power sells B2B Automation business to Alfanar for €120 million

CG Power and Industrial Solutions sold its B2B Automation business, including ZIV Aplicaciones y Tecnologia, to Alfanar for an enterprise value of €120 million. The transfer was effective March 6, 2017.

- Type: Acquisition
- Announced: 2017-03-06
- Value: $127.0M (120.0M EUR)
- Status: completed
- Products: automation systems, electrical equipment
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [CG Power and Industrial Solutions](https://endata.com/companies/16858.md)
- [Alfanar](https://endata.com/companies/16315.md) (acquirer)
- [ZIV Aplicaciones y Tecnologia](https://endata.com/companies/16859.md) (target)
- [ZIV Aplicaciones y Tecnologia, S.L.](https://endata.com/companies/16924.md) (target)

## Sources

- [energetica-india.net](https://www.energetica-india.net/news/cg-announces-sale-of-b2b-automation-business-to-alfanar), 2017-03-08: "CG Power and Industrial Solutions Limited announces the sale of its B2B Automation business to Alfanar for an enterprise value of 120 million Euros."
- [powerline.net.in](https://powerline.net.in/2017/03/23/cg-announces-sale-of-b2b-automation-business-to-alfanar/), 2017-03-23: "CG announces sale of B2B automation business to Alfanar for an enterprise value of Euro 120 million."

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