Tata Electronics Makes History: CCI Clears Acquisition of Wistron's India iPhone Plant

The Competition Commission of India (CCI) has officially approved Tata Electronics' acquisition of Wistron's operations in India. The target of this acquisition is Wistron Infocomm Manufacturing (India), which operates an iPhone assembly plant near Bengaluru, Karnataka.

In this transaction, Tata Electronics is set to acquire the entire 100 percent equity share capital of Wistron Infocomm Manufacturing (India). The equity shares will be procured from SMS Infocomm (Singapore) and Wistron Hong Kong.

Last year, Wistron's Board had given the green light for the sale of Wistron InfoComm Manufacturing (India) to Tata Electronics for a total of USD 125 million. Wistron, a prominent player in electronic manufacturing services, specializes in producing smartphone enclosures—a crucial component for high-precision smartphone manufacturing. Wistron InfoComm Manufacturing (India) was established in 2017 as part of the Wistron group.

Notably, SMS Infocomm and Wistron Hong Kong collectively held 99.99 percent of the Wistron Infocomm Manufacturing (India) share capital on a fully diluted basis, with 0.01 percent held by each, respectively.

News by Rahul Yelligetti