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

The Competition Commission of India (CCI) has approved Tata Electronics’ (TEPL) proposal to acquire a majority stake in Pegatron Technology, a Taiwanese contract manufacturer and Apple iPhone supplier.

TEPL is a wholly-owned subsidiary of Tata Sons. TEPL have expertise in manufacturing high-precision components for large customers. TEPL will acquire the majority shareholding of Pegatron India in two tranches, CCI said in a release.