CG Power Divests Stake in Indonesian Venture

CG Power and Industrial Solutions has agreed to sell its 51% equity stake in Indonesian venture PT Crompton Prima Switchgear Indonesia to joint venture partner PT Prima Layanan Nasional Enjiniring. The transaction, set to complete by March 2026, involves no financial impact.

CG Power and Industrial Solutions announced its decision to sell a 51% stake in PT Crompton Prima Switchgear Indonesia (CPSI) to its joint venture partner, PT Prima Layanan Nasional Enjiniring (PLNE). This sale results from a conditional agreement between CG Power's subsidiary, CG International Holdings Singapore Pte Ltd, and PLNE.

The agreed transactional consideration is IDR1, and upon completion, CPSI will no longer be a subsidiary of CG International. The financials of CG Power will remain unaffected by this divestment, according to regulatory filings.

The sale, including factory assets, is expected to finalize by March 31, 2026. This move aligns with CG Power's strategic decisions, and does not involve entities from its Promoter Group, the company previously disclosed in February 2026.

(With inputs from agencies.)