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Sterlite Technologies on Friday said that one of its subsidiaries will acquire Metallurgica Bresciana, a European specialised optical cable manufacturer, for €47 million in an all-cash deal.
'The acquisition, which will be done through Sterlite Technologies’ wholly-owned Italian subsidiary Sterlite Technologies SpA, is earnings per share accretive and the deal is expected to be closed in the coming two weeks, Sterlite said. Shareholders will monitor the development.
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