The Competition Commission of India approved the acquisition of Taiwanese contract manufacturer Wistron Corp.'s India unit by the Tata Group.
The competition watchdog gave its nod for the acquisition of 100% of Wistron Infocomm Manufacturing (India) Pvt. from SMS Infocomm (Singapore) Pvt. and Wistron Hong Kong Ltd. by Tata Electronics Pvt., it said in a statement on Tuesday.
Wistron Corp., a contract manufacturer for Apple Inc., had announced the sale of its India unit to the Tata Group for $125 million in October last year, making the salt-to-software conglomerate the first Indian iPhone-maker.
Tata Electronics is a wholly-owned subsidiary of Tata Sons Pvt., the promoter holding firm of the Tata Group. The group has sought to make inroads into electronics production and e-commerce.
TEPL already operates a manufacturing facility in the Krishnagiri district of Tamil Nadu.
The Wistron Karnataka assembly factory is located near Bengaluru.
The plant witnessed trouble in late 2020 after workers went on a rampage due to wage-related issues. The company then sacked its vice president overseeing its business in India, as it admitted that some workers were not paid correctly or on time, and had offered an apology.
Operations resumed in March 2021 after the state government intervened.
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