Sterlite Technologies (STL) has signed the definitive agreement to acquire balance 25% stake in Jiangsu Sterlite Tongguang Fiber (JSTFCL). STL’s current shareholding in JSTFCL is 75%. Post-acquisition of balance 25% stake, JSTFCL will become a wholly owned subsidiary of STL. The closing as per the agreement is subject to the conditions precedents as set out in the agreement for acquisition.
Acquisition of the remaining 25% of JSTFCL will ensure optical fiber supply security to support STL’s expanding optical fiber cable operations.
Sterlite Technologies is an industry-leading integrator of digital networks.
