Mumbai, Oct. 19 -- Amber Enterprises India announced that its material subsidiary, IL JIN Electronics (India) signed a share swap agreement for acquisition of balance 75,680 equity shares of Power-One Micro Systems (a step-down subsidiary of the company), representing the balance 40% equity stake on a fully diluted basis against 1,76,000 Compulsorily Convertible Preference Shares (CCPS A3) of face value Rs. 10 each at an issue price of Rs. 10,000 per CCPS A3 (including a premium of Rs. 9,990 per CCPS A3) to the sellers.

Upon completion of the aforesaid transaction, IL JIN shall hold 100% of the equity share capital of Power-One and, consequently, Power-One shall become a wholly owned subsidiary of IL JIN and the Company.

Published by HT...