Reliance ties up with Sanmina for electronics manufacturing in India
03/03/2022 03:34
BENGALURU, March 3 (Reuters) - Indian conglomerate Reliance
Industries RELI.NS said on Thursday it would create a joint
venture with U.S.-listed Sanmina Corp SANM.O to manufacture
electronics in the Asian country.
A Reliance unit will invest 16.7 billion rupees ($220.86
million) in new shares of Sanmina's existing Indian entity,
giving it a 50.1% stake in the joint venture.
($1 = 75.6130 Indian rupees)
(Reporting by Chris Thomas in Bengaluru; Editing by Anil
D'Silva)
((chris.thomas@thomsonreuters.com; +91-80-6749-8695;))