Sterlite Technologies Limited (BSE:532374) signed an agreement to acquire Optotec Spa from Nuove Tecnologie Elettrotelefoniche Spa for an enterprise value of €29 million on October 31, 2020. The deal will be financed by a mix of internal accruals and foreign currency debt instruments. As of December 31, 2019, Optotec reported revenue of €20 million. The transaction is subject to approval under the Italian government’s ‘Golden’ Powers’ decrees. The transaction is expected to close by the end of 2020. DC Advisory acted as financial advisor to OPTOTEC S.p.A. Anand Shah of AZB & Partners acted as legal advisor to Sterlite Technologies Limited. Sterlite Technologies Limited (BSE:532374) completed the acquisition of Optotec Spa from Nuove Tecnologie Elettrotelefoniche Spa on January 8, 2021.