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

The Competition Commission of India (CCI) on Tuesday approved Tata Electronics’ proposal to acquire a majority stake in Apple’s contract manufacturer Pegatron Technology India.

Tata Electronics Pvt Ltd (TEPL) is a wholly-owned subsidiary of Tata Sons. TEPL have expertise in manufacturing high-precision components for large customers.

The proposed combination envisages TEPL to acquire the majority shareholding of Pegatron India in two tranches, CCI said in a release.