Business CG Power lenders approve Murugappa Group led Tube Investments' takeover bid Updated : August 31, 2020 08:48 AM IST "Lenders have agreed to issue the Letter of Intent (LoI) to Murugappa Group for CG Power today," said a person directly involved with he matter. The stressed power equipment maker will now hold an Extraordinary General Meeting of shareholders on September 2 to secure their approval for transfer of shares to Tube Investments. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.