Electronics Production | February 22, 2008
Sitronics acquires additional<br>stake in Kvazar-Micro
Russian based JSC Sitronics has started the process of consolidation of a 100% stake in Kvazar-Micro Corporation B.V.
Sitronics currently owns a 51% stake in Kvazar-Micro. During the first stage of the transaction, the 36% stake will be acquired from Melrose Holding Company for US$ 116.9 million. The acquisition will be financed by a combination of cash and Sitronics ' stock. As a result of the transaction, Melrose Holding Company will acquire a 3.07% stake in Sitronics. Kvazar-Micro will acquire the remaining 13% of its shares from Melrose Holding Company within two years.
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