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This proposed deal involves the acquisition of 100 per cent equity share capital of Wistron Infocomm Manufacturing (India) Private Limited by Tata Electronics Private Limited. The equity shares will be acquired from SMS Infocomm (Singapore) Private Limited and Wistron Hong Kong Limited.
The Competition Commission of India (CCI) has approved the proposals for stake acquisitions in Religare Enterprises (REL) by four entities controlled by the Burman family members. These entities aim to acquire a majority shareholding of up to 53.94% in REL and collectively exercise joint control over the company.
Previously, Srinivas Satya was the former president and managing director of Applied Materials India for eight years. Tata Electronics said he brings extensive experience in managing large organizations and delivering strong business growth in the electronics industry.
Applied Materials confirmed Satya's exit and said Satheesh Kuppurao, Vice President of Business Development and Growth, will serve as the Country President on an interim basis.
Applied Materials departed with Satya on a positive note. The company expressed gratitude for his over 28 years of contribution, wishing him great luck in future endeavours, , Tata Electronics, applied materials