New Delhi, April 19th, 2021.
Optiemus Infracom Limited, leading telecommunications enterprise today announced the completion of the acquisition of 27,60,000 (Twenty Seven Lakh Sixty Thousand) Equity shares (19.91% of the total share capital) of Optiemus Electronics Limited, Subsidiary and Joint Venture Company, by way of transfer from Wistron Corporation.
Optiemus Infracom Limited already holds 80.09% of the total equity share capital of Optiemus Electronics Limited. Earlier on December 18th,2020, the Board of Directors of the Company considered and approved the decision to strengthen ownership and control. After the acquisition (19.91%), OEL has become Wholly Owned Subsidiary of Optiemus Infracom Limited.
Also, after acquiring remaining shares, the Joint Venture Agreement, entered into by the Company with Wistron Corporation has also been ceased to be effective.
On completion of the acquisition, Mr. Ashok Kumar Gupta, Chairman, Optiemus Infracom said “This acquisition is aimed to drive value creation for all the stakeholders by strengthening the ownership and work towards enhancing the brand image of Optiemus. It will also help us in foraying into new business verticals besides building up the existing business verticals. This will result in to mitigation of associated business risk and achievement of greater financial flexibility and earnings.”