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TT International in electronics joint venture with Standard Chartered Private Equity
TT International on Friday said its wholly-owned subsidiary, Omni Capital, has entered into a share subscription agreement to form a joint venture (JV) company with Standard Chartered Private Equity (SCPE).
Under the agreement, SCPE will inject up to US$50 million in Omni Centre Pte Ltd (what the JV will be known as), which will be held by Omni Capital and SCPE together. This JV will engage in the consumer electronics business.
The completion of the deal is subject to the fulfilment of certain conditions, it added, without further elaboration.