Tata Electronics gets CCI's clearance to acquire majority stake in Pegatron India

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Tata Electronics gets CCI's clearance to acquire majority stake in Pegatron India
PTI News
Dated:- 7-1-2025
PTI
New Delhi, Jan 7 (PTI) The Competition Commission of India (CCI) on Tuesday approved Tata Electronics' proposal to acquire a majority stake in Apple's contract manufacturer Pegatron Technology India. Tata Electronics Pvt Ltd (TEPL) is a wholly-owned subsidiary of Tata Sons. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... TEPL have expertise in manufacturing high-precision components for large customers. The proposed combination envisages TEPL to acquire the majority shareholding of Pegatron India in two tranches, CCI said in a release. TEPL, through Tata Electronics Systems Solutions (formerly known as Wistron Infocomm Manufacturing (India), is also engaged in the provision of electronics manufacturing services .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... (EMS) for smartphones. The fair trade regulator also granted nod to Tata Electronics to transfer the business undertaking of TEL Components, an wholly-owned subsidiary of TEPL, to Pegatron India. "Commission approves the acquisition of certain shareholding of Pegatron Technology India Pvt Ltd (Pegatron India) by Tata Electronics Pvt Ltd (TEPL) and the transfer of TEL Components Pvt Ltd (TEL) bu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... siness undertaking to Pegatron India," the regulator said in a post on X. Pegatron India is a subsidiary of Pegatron Corporation. Pegatron India is engaged in the provision of electronics manufacturing services for smartphones like Apple Inc and exports its products to countries in North America, Asia and Europe. In April, Tata Electronics was in discussion with Pegatron to acquire a majority st .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ake in its India factory. Tata Electronics acquired the iPhone unit of Taiwanese company Wistron in Bangalore for USD 125 million in November 2023. The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices and promotes fair competition in the marketplace. PTI HG HG BAL BAL BAL
News - Press release - PIB .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X