Riyadh – Mubasher: Electrical Industries Company (EIC) has completed the required procedures for the liquidation of its subsidiary, CG Power Systems Solutions Saudi Arabia.

There will be no material impact on EIC due to its unit’s liquidation, according to a stock exchange filing on Wednesday.  

Noteworthy to mention, EIC owns 49% of the liquidated subsidiary while CG Holdings Belgium owns the remaining stake of 51%.