Asea AB of Stockholm, Sweden, in process of merging its core operations with those of Brown Boveri & Cie of Zurich, Switzerland, is to take control of telephone equipment manufacturer, distributor and electrical engineer Elektrisk Bureau A/S of Oslo, Norway. Asea, which already holds 20% of the company, will pay $205m for another 40% from […]
Asea AB of Stockholm, Sweden, in process of merging its core operations with those of Brown Boveri & Cie of Zurich, Switzerland, is to take control of telephone equipment manufacturer, distributor and electrical engineer Elektrisk Bureau A/S of Oslo, Norway. Asea, which already holds 20% of the company, will pay $205m for another 40% from investment group A/S Investa, which will retain 8%. The plan is to merge Elektrisk Bureau with the Asea-Per Kure A/S Norwegian subsidiary and with Brown Boveri’s 52%-owned Norsk Elektrisk Brown Boveri A/S. The new firm will retain the Elektrisk Bureau name, and its quote on the Oslo stock exchange. It will employ 15,000, with annual sales of some $1,500m.
