Tata Group, India’s largest conglomerate, is close to an agreement to acquire an Apple Inc. supplier’s factory as soon as August, marking the first time a local company would move into the assembly of iPhones, according to people familiar with the matter.
A takeover of the Wistron Corp. factory in southern Karnataka state, potentially valued at more than $600 million, would cap about a year of negotiations, said the people, asking not to be named as the matter is private. The facility employs more than 10,000 workers, who assemble the latest iPhone 14 model.