Analyst Presentation Q4 Financial Year 2020-21
GEOD Update
95
(GE)
Global Engineering Operations Division (GEOD) Sale Proposal
GE Created Global Engg Operating Center (GEOC) at GE India
Industrial Pvt Ltd (GEIIPL) to support global technology development
to meet the challenges of the global energy transition and respond
to changing market needs.
•
Considering non-core (revenues <3% of total), lack of long-term
commitment, exclusivity, Board approved for sale of GEOD to GEIIPL
873 minr consideration based on Independent Valuation from M/s.
Ernst & Young Merchant Banking Services LLP
GE Grid Solution communication:
Company has been notified that with effect from 30 June 2021 no
new contracts/purchase orders will be issued to it in relation to those
services and existing contracts/purchase orders will lapse at their
expiry date or be terminated by notice.
Stock Exchange duly communicated on April 30, 2021
Impact on GETDIL: ~190 employees and ~100minr assets redundant
Postal Ballot : Approval of Majority of Minority not received
In favour
Against
Action under progress
To mitigate restructuring cost of impacted employees and assets,
GETDIL Board has advised the management to explore potential
solutions to minimize adverse impact on the Company
•
No of Votes
No of Shares
217
47.7%
31
52.3%
248
100%
O GE T&D India LimitedView entire presentation