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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.

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