The Competition Commission of India (CCI) approves acquisition of 50.1% of the equity share capital of Sanmina-SCI India Private Limited (SCIPL) by Reliance Strategic Business Ventures Limited (RSBVL).

The proposed combination envisages acquisition of 50.1% of the equity share capital of SCIPL by RSBVL.

RSBVL is a subsidiary of Reliance Industries Limited. RSBVL’s principal activities are trading of goods, holding strategic investment interests in businesses and providing business support services.

SCIPL is an indirect subsidiary of Sanmina Corporation, a Fortune 500 company headquartered in San Jose, California, USA. Sanmina is a global provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services. It provides its services to original equipment manufacturers primarily in the communications networks, computing and storage, medical, defense and aerospace, industrial and semiconductor, multi-media, automotive and clean technology sectors.

Detailed order of the CCI will follow.

Competition clearance granted for acquisition of controlling stake in Sanmina SCI India by Reliance group company. CCI approval is announced for the proposed acquisition by Reliance Strategic Business Ventures Limited of a controlling equity stake in Sanmina SCI India Private Limited, effecting a change in control of SCIPL. The transaction places SCIPL under the Reliance group's ownership and governance influence and identifies the principal commercial activities of the acquiring and target entities to delineate the competitive and sectoral context of the combination.