# Electrical Industries to fully acquire Saudi Transformers Co

Electrical Industries Company signed an MoU to buy CG Power Systems Belgium's 49% stake in Saudi Transformers Co, making it a wholly-owned subsidiary. The deal is expected to close by end of Q1 2017.

- Type: Acquisition
- Announced: 2017-01-25
- Where: Saudi Arabia
- Status: announced
- Products: transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Electrical Industries](https://endata.com/companies/12225.md) (acquirer)
- [Saudi Transformers Co](https://endata.com/companies/21732.md) (target)
- [CG Power Systems Belgium](https://endata.com/companies/21733.md) (partner)

## Sources

- [english.mubasher.info](https://english.mubasher.info/news/3048820/Electrical-Industries-to-fully-acquire-Saudi-Transformers-Co/), 2017-01-26: "Electrical Industries Company (EIC) announced signing a memorandum of understanding (MoU) with CG Power Systems Belgium NV, the foreign partner in EIC's subsidiary Saudi Transformers Co."

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