Amber Enterprises India said on November 3 that its subsidiary IL JIN Electronics had completed the acquisition of the remaining 40% stake in Power-One Micro Systems. The transaction brings IL JIN’s ownership of Power-One to 100%.
The completion follows a share-swap agreement signed on October 18. Amber’s latest exchange filing covers the transfer of 1,75,680 equity shares from the existing sellers, rather than the announcement of a new agreement.
IL JIN allotted 1,76,000 Compulsorily Convertible Preference Shares A3 to the sellers as non-cash consideration. Following the transaction, Power-One is a wholly owned subsidiary of IL JIN and a wholly owned step-down subsidiary of Amber.
The update confirms a change in ownership within Amber’s electronics business. It does not announce a new manufacturing plant, a product launch or a separate customer order. Amber referred readers to its October 18 disclosure for the transaction’s earlier details. The November filing’s immediate significance is that the previously proposed purchase has been completed and the subsidiary ownership structure has changed accordingly.
Archive illustrative close-up of an electronic circuit board; not a Power-One product or factory. Photo: Circuit board Closeup by Jonathan Cutrer, CC BY 2.0. Display may be resized or cropped.
