CG Power gains regulatory approval for Renesas acquisition

CG Power and Industrial Solutions announced it has received regulatory approval from the Committee on Foreign Investment in the United States, clearing a significant hurdle in its acquisition of the Radio Frequency (RF) components business of Renesas Electronics America Inc. and its affiliates. The initial disclosure regarding the definitive agreement for the asset purchase was made on October 5, 2024. The acquisition, structured through one or more subsidiaries, was contingent upon satisfactory completion of customary conditions precedent, including the aforementioned regulatory approval. The company confirmed the approval was granted on March 10, 2025, and received by them on March 11, 2025. Further details regarding the acquisition will be disclosed in accordance with SEBI Listing Regulations. The company urged exchanges to record the information.