Amber Group buys over 40% in Israel’s Unitronics
New Delhi: Electronics manufacturer Amber Group has signed definitive agreements to take a 40.24% controlling stake in Israel-based Unitronics, a global player in industrial automations and control systems, for more than ₹400 crore.
Amber’s electronics manufacturing subsidiary ILJIN Electronics will acquire 5,624,591 shares at NIS 27.75 per share for NIS 156 million (around ₹403 crore) in an all cash-deal. After the acquisition, ILJIN, together with joint chairman of Unitronics, will own a 45.13% stake in the company. No governmental or regulatory approvals are needed for the deal, Amber said in a stock exchange filing Monday.
