(TAIPEI, TAIWAN) 27 Oct 2023 —Wistron Corp. held a Board of Directors Meeting today and granted approval for its subsidiaries, SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited, to sign the Share Purchase Agreement with Tata Electronics Private Limited (TEPL) for the sale of its 100% indirect stake in Wistron InfoComm Manufacturing (India) Private Limited (WMMI). The transaction price is tentatively estimated as USD125 million (approximately NTD3.89 billion).

 

Upon confirmation and signature of the relevant agreements by both parties, the deal will proceed to obtain the necessary approvals. Following the completion of the transaction, Wistron will make the required announcements and filings in accordance with applicable laws and regulations.

 

Simultaneously, SMS InfoComm (Singapore) Pte. Ltd. announced its proposal to convert the debt of US$130.26 million (including accrued interest) extended by them to WMMI, in the form of External Commercial Borrowing (ECB), into equity.