The acquisition, advised by PricewaterhouseCoopers (PwC), could be announced about four weeks after completion of formalities. Sterlite Technologies, promoted by Anil Agarwal of the Vedanta Resources fame, is reportedly in advanced talks to acquire UK-based cable company Brand Rex for about US$55mn.
The acquisition, advised by PricewaterhouseCoopers (PwC), could be announced about four weeks after completion of formalities, a leading business daily says. Sterlite Technologies has declined to comment on the report.
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.
Brand-Rex is Europe’s leading data communication cabling systems provider. It supplies cabling systems to support IT networks across various sectors, such as finance and education. It employs nearly 400 people.
Sterlite Technologies, formerly Sterlite Optical Technologies, is a leading global provider of wire and cable solutions for the telecom and power industry. It controls 46% share of the Indian optical market and 4% share of the global optical market.
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