M&A

M&A

Tata Electronics' proposal to acquire majority stake in Pegatron India gets CCI nod

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Mumbai-based Tata Electronics has got approval from the Competition Commission of India (CCI) to acquire a majority stake (via two tranches) in Kanchipuram (Tamil Nadu)-based Pegatron Technology India .CCI also agreed to Tata Electronics' transfer of the business undertaking of TEL Components, a subsidiary of TEPL, to Pegatron India.Pegatron India is a subsidiary of Taiwan-based Pegatron Corporation. It provides electronics manufacturing services for smartphones like Apple and exports its products to countries in North America, Asia and Europe markets.