Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Sterlite Technologies in talks to buy UK firm: report
BackBack

Sterlite Technologies in talks to buy UK firm: report

Sterlite Technologies in talks to buy UK firm: report

Premium

Mumbai: Sterlite Technologies Ltd is in advanced discussions to acquire UK-based cabling company Brand Rex for about $55 million, a newspaper said on Tuesday citing sources.

The acquisition, advised by PricewaterhouseCoopers, could be unveiled about four weeks after completion of formalities, The Economic Times reported.

Sterlite Technologies declined to comment on the report. “As a company policy we do not comment on market speculation or market rumours," a company spokesman told Reuters.

Sterlite Tech is part of Anil Agarwal’s Sterlite Group, and manufactures optic fibre cables and power conductors.

Brand-Rex provides cabling systems that connect technical equipment in offices and data centres. It was acquired by Murray Capital, the private equity arm of Murray International Holdings in February 2008, information on its website showed.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 23 Sep 2008, 11:57 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie