Sterlite Technologies’ subsidiary has completed the acquisition of Metallurgica Bresciana, an European specialised optical cable manufacturer, for €47 million in an all-cash deal.
The company said in a regulatory filing that its wholly owned subsidiary, Sterlite Technologies S.p.A., has completed the acquisition on July 20, 2018.
Incorporated in 1987, Metallurgica Bresciana designs and manufactures special precision optical fibre cables and specialised copper cables for various communication applications. It has operations in Italy and China. The company had reported a revenue of €48.7 million and net income of €4.2 million at the close of 2017.
Shares of Sterlite Technologies were trading up by 3.56 per cent at Rs 352 on the BSE.