Homegrown Amber Group to buy controlling stake in Israel’s Unitronics

New Delhi: Electronics manufacturer Amber Group has signed definitive agreements to take a controlling stake in Israel-based Unitronics, a global player in industrial automations and control systems, the company said in an exchange filing.

Amber’s electronics manufacturing subsidiary ILJIN Electronics will acquire 5,624,591 shares at NIS 27.75 per share for 156 million NIS (around ₹403 crore) in an all cash-deal. Post the acquisition, ILJIN, together with Joint Chairman of Unitronics will own a 45.13% stake in the company.