Crompton Greaves in talks with First Reserve

Crompton Greaves is in advanced talks with global PE firm, First Reserve to sell its overseas power assets. The two companies entered into exclusive talks to firm-up the transaction. Crompton Greaves has been on a selling spree and had targetted hiving off the overseas power business and sell the unit by Q2FY16, this plan is on track with First Reserve showing interest in the assets. Contact: Crompton Greaves. Tel: 022-2423 7777. Website: www.cgglobal.com