Dixon Technologies (India) Ltd. to Form a Joint Venture with HKC Corporation Limited for Manufacturing and Distribution of Liquid Crystal Modules
Dixon Technologies (India) Limited has executed a share subscription and shareholders’ agreement with HKC Overseas Limited and Dixon Display Technologies Private Limited to form a joint venture for manufacturing of Liquid Crystal Modules, thin film transistor liquid crystal display modules, assembly of end products such as smartphones, TVs, monitors and auto displays and selling HKC branded end products in India. Upon completion of the transaction, Dixon Technologies (India) Limited will hold 74% (seventy-four percent) of the share capital of Dixon Display Technologies Private Limited and HKC will hold 26% (twenty-six percent) of the share capital of Dixon Display Technologies Private Limited. The transaction is subject to satisfactory completion of conditions precedent as set out in the SSHA, including receipt of approvals from relevant government authorities.
Key Highlights
- Dixon Technologies (India) Limited and HKC Overseas Limited have entered into a joint venture for manufacturing of Liquid Crystal Modules, thin film transistor liquid crystal display modules, assembly of end products such as smartphones, TVs, monitors and auto displays and selling HKC branded end products in India.
- The joint venture will be formed through a share subscription and shareholders’ agreement between Dixon Technologies (India) Limited, HKC Overseas Limited and Dixon Display Technologies Private Limited.
- Upon completion of the transaction, Dixon Technologies (India) Limited will hold 74% (seventy-four percent) of the share capital of Dixon Display Technologies Private Limited and HKC will hold 26% (twenty-six percent) of the share capital of Dixon Display Technologies Private Limited.
- The transaction is subject to satisfactory completion of conditions precedent as set out in the SSHA, including receipt of approvals from relevant government authorities.