Tata Electronics Private Limited has acquired 100% stake of Wistron Infocomm Manufacturing (India) Private Limited for approximately ₹1000 crore ($125 million).
AZB & Partners advised Wistron Corporation, SMS Infocomm (Singapore) Pte. Ltd., Wistron Hong Kong Limited and Wistron Infocomm Manufacturing (India) Private Limited on this acquisition.
The transaction team consisted of Partners Roxanne Anderson and Gautam Ganjawala with Senior Associate Lokesh Deshwal.
With this acquisition, Tata Electronics will become the first Indian manufacturer of Apple iPhones.