Brief: Reliance, Sanmina Create Manufacturing Joint Venture In India

Sanmina

03/03/2022 03:22

March 3 (Reuters) - Reliance Industries Ltd  RELI.NS :
    * SANMINA AND RELIANCE CREATE MANUFACTURING JOINT VENTURE IN
INDIA
    * RSBVL WILL HOLD 50.1% EQUITY STAKE IN JV ENTITY WITH
SANMINA
OWNING REMAINING 49.9%
    * RSBVL TO INVEST UP TO 16.70 BILLION RUPEES IN NEW SHARES
IN
SANMINA’S EXISTING INDIAN ENTITY
    * SANMINA TO CONTRIBUTE EXISTING CONTRACT MANUFACTURING
BUSINESS
    * AS A RESULT OF INVESTMENT, JV TO BE CAPITALIZED WITH OVER
$200
MILLION OF CASH TO FUND GROWTH
    * TRANSACTION EXPECTED TO CLOSE NO LATER THAN SEPT 2022

Source text for Eikon:  ID:nBSE7L1847 
Further company coverage:  RELI.NS 

 ((Reuters.Briefs@thomsonreuters.com;))