MUMBAI -- Indian governmental authorities have given the go-head to Reliance Strategic Business Ventures' planned majority stake in Sanmina-SCI India.

Under terms of the agreement, RSBVL will purchase 50.1% of Sanmina's India entity.

The Competition Commission of India approved the pending purchase this week, stating in a press release: “The proposed combination envisages acquisition of 50.1 percent of the equity share capital of SCIPL by RSBVL.”

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