BENGALURU (Reuters) – Indian conglomerate Reliance Industries said on Thursday it would create a joint venture with U.S.-listed Sanmina Corp to manufacture electronics in the Asian country.
A Reliance unit will invest 16.7 billion rupees ($220.86 million) in new shares of Sanmina’s existing Indian entity, giving it a 50.1% stake in the joint venture.
($1 = 75.6130 Indian rupees)
(Reporting by Chris Thomas in Bengaluru; Editing by Anil D’Silva)
