CCI Greenlights Dixon Technologies' Major Stake Acquisition in Ismartu India

The Competition Commission of India approved Dixon Technologies' acquisition of a 56% stake in Ismartu India. Ismartu provides engineering and manufacturing services for mobile phones under brands like Itel and Tecno. This acquisition enhances Dixon's EMS offerings. Another CCI-approved deal involves Sandur Manganese's acquisition of Arjas Steel.

The Competition Commission of India (CCI) on Thursday approved Dixon Technologies' proposed acquisition of a 56% stake in Ismartu India Pvt. Ltd., an EMS provider specializing in mobile phone manufacturing under brand names like 'Itel', 'Infinix', and 'Tecno'.

Ismartu India is a subsidiary of Ismartu Ind Pte. Ltd. This acquisition bolsters Dixon's portfolio, expanding its expertise in EMS for various products including lighting solutions, television, washing machines, security systems, and more.

In a separate announcement, CCI also sanctioned the indirect acquisition of Arjas Steel Pvt. Ltd. and Arjas Modern Steel Pvt. Ltd. by Sandur Manganese & Iron Ores Ltd. and BAG Holdings Pvt. Ltd., firms engaged in the production and sale of steel products and mining activities respectively.

(With inputs from agencies.)