M&A
Electronics manufacturer Amber Group acquires 40% stake in Israeli automation firm Unitronics for Rs
BSE Announcement Business Line
Electronics manufacturer Amber Group, via its subsidiary IL JIN Electronics India Pvt Ltd, has acquired a 40.24% controlling stake in Israel-based publicly listed Unitronics for around INR 403 crore in an all-cash deal. Post the acquisition, ILJIN, along with the joint chairman of Unitronics, will own a 45.13% stake in the company.The acquisition will help Amber to expand its industrial product portfolio with backward integration and access to global markets like the USA and Europe.Incorporated in 1989, Unitronics is an industrial automation company that offers a range of products designed to meet the requirements of different applications, including design, development, manufacturing, marketing, sale and support of products.
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