New Delhi, 10 September: In a move to enhance its production base in India, Japanese firm Toshiba Corp today said it will acquire a majority stake in Hyderabad-headquartered company Vijai Electricals for about $200 million.
“Toshiba Corporation and Vijai Electricals Ltd today announced that they have agreed to Toshiba’s acquisition of the major part of Vijai’s electricity transmission and distribution (T&D) business for approximately $200 million (around Rs 1,276.8 crore),” Toshiba said in a statement, adding that the acquisition will be completed by November 2013.
Toshiba will establish a new company that will absorb the acquired business, it said.     pti