Tata Group Acquires 100% Stake in Wistron to Manufacture iPhones in India gizbot.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gizbot.com Daily Mail and Mail on Sunday newspapers.
The Tata Group has signed an agreement with SMS InfoComm (Singapore) and Wistron Hong Kong Limited to acquire full stake (100 per cent) equity stake in Wistron Infocomm Manufacturing (India), enabling the Tata Group to officially join the Apple supply chain as an iPhone assembler.
The Tata Group unveiled the plan to acquire Wistron India officially on October 27, announcing it would pay $125 million for 100% equity stake for the company’s assembly lines. ET reported on Thursday that the deal is worth a total $750 million inclusive of a $550-million inter-corporate loan given by the parent to Wistron India.