CSE Global sells 66% stake in power diesel unit
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Singapore
AUTOMATION and telecom solutions provider CSE Global has sold its majority stake in a diesel engine maintenance unit for S$15.47 million in cash, more than twice the amount it paid for it three years ago.
It has completed the sale of its entire 66 per cent stake in Power Diesel Engineering to a company called IMR Power, it said in a Singapore Exchange (SGX) filing on Friday, adding that the disposal would let it focus on its process controls and communication and security businesses.
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