New Delhi: Noel Tata led Tata Electronics has got Competition Commission of India’s approval for 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)’s business undertaking to Pegatron India.
The Proposed Combination involves the following steps:
A. TEPL proposes to acquire the majority shareholding of Pegatron India in 2 tranches,
B. A wholly owned subsidiary of TEPL (i.e., TEL) proposes to transfer its business undertaking to Pegatron India.
TEPL is a wholly owned subsidiary of Tata Sons Private Limited with expertise in manufacturing high-precision components for large customers. It manufactures smartphone enclosures (i.e., the frame of the phone on which other components/sub-assembles of a smartphone are assembled) for smartphones. TEPL, through its wholly owned subsidiary Tata Electronics Systems Solutions (formerly known as Wistron Infocomm Manufacturing (India) Private Limited), is also engaged in the provision of electronics manufacturing services (EMS) for smartphones.
Further, TEPL, through its wholly owned subsidiary TEL, is setting up a greenfield facility to provide EMS for smartphones.
What Is Pegatron India’s Apple Connection?
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.
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, reported PTI.
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