CSE Global sells subsidiary for $15.5m

It will focus on its core business.

CSE Global has entered into a sale and purchase agreement with IMR Power Pte Ltd (IMR) to dispose off its 66% shareholdings in its subsidiary, Power Diesel (PD), for a cash consideration of $15.5m.

CSE’s rationale for the disposal is to allow it to focus on its core businesses – process controls and communication and security. CSE has also stated the proceeds will be used for general working capital purposes.
 

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