# EIC seeks to acquire assets from CG Power liquidation

Saudi Arabia's Electrical Industries Company (EIC) has begun negotiations to acquire the assets of bankrupt Belgian transformer manufacturer CG Power, including machinery, equipment, inventory, software and IP rights.

- Type: Acquisition
- Announced: 2020-08-26
- Where: Belgium
- Status: announced
- Products: transformers
- Sectors: [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Electrical Industries](https://endata.com/companies/12225.md) (acquirer)
- [CG Power](https://endata.com/companies/49498.md) (target)

## Sources

- [powertransformernews.com](https://www.powertransformernews.com/2020/08/26/saudis-eic-seeks-to-buy-assets-from-cg-power-liquidation/), 2020-08-26: "Saudi Arabia’s Electrical Industries Company (EIC) has begun negotiations to acquire the assets of Belgian transformer manufacturer CG Power."

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