DES PLAINES, IL — Littelfuse, Inc., a global provider of circuit protection products, has signed an agreement for the purchase of an additional 10.1 percent of shares in Heinrich Industrie AG of Witten, Germany. This will increase the company’s ownership to 96.8 percent.
Heinrich Industrie, headquartered in Witten, Germany, is the holding company for the WICKMANN Group of circuit protection products, which has three business units: electronic, automotive and electrical. Heinrich Industrie is one of the leading global companies in the fuse industry, with strong market positions in Europe, especially Germany, and a growing presence in Asia.
The company will purchase an additional 202,000 shares of Heinrich for approximately 4.8 million euros (approx. $6 million USD) in a private transaction.
After increasing ownership in Heinrich to 96.8 percent, the company said it intends to move forward with a process under German securities law to purchase all remaining shares.
Littelfuse acquired an initial 82.4 percent ownership stake in Heinrich in May and initiated a tender offer for the remaining shares. The tender offer, which was completed in July, increased the company’s total ownership of Heinrich to 86.7 percent.
For more information about Littelfuse, go to: www.littelfuse.com.
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