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Sterlite Technologies will be acquiring European specialized optical cable manufacturer, which is based in Italy.
Sterlite Technologies S.p.A, the company’s wholly owned Italian subsidiary will acquire 100% stake in Metallurgica Bresciana S.p.A. The acquisition is estimated to get completed in two weeks and it is an all cash deal for approx Euro 47 million, which will be funded via a mix of Euro debt instruments and internal accruals.
Further, Anand Agarwal, CEO Sterlite Technologies said, “We are delighted to sign a definitive agreement for the acquisition of Metallurgica Bresciana, which will expand Sterlite Tech’s optical fiber cabling business by augmenting our access to key European markets and add highly complementary speciality cables to our products portfolio.”
