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Electrical Industries Company (EIC) acquired the production activities from the assets of the bankrupt estate of CG Power Systems Belgium.
Electrical Industries Co. signed a binding offer to buy CG Power Systems-Belgium's 49% stake in Saudi Transformers Co. for SAR 1 per share, raising its holding to 100%.
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.