Sweden's SKF group acquires 99.3 pct of Taiwan's ABBA Linear (Finanze Nachrichten.de; 2007/4/12)

TAIPEI (XFN-ASIA) - The SKF Group has acquired 40.279 shares or a 99.3 pct stake in Taiwan's ABBA Linear Tech Co Ltd through an investment arm, at 49.57 twd per share, the financial adviser of the deal said. 'To facilitate the acquisition, a controlling shareholder of ABBA Linear earlier formed an investment arm that carried out the acquisition of the Taiwan firm through a tender offer between Feb 26 and April 11,' an official with the deal's financial adviser, Taiwan Securities Co Ltd, said.  

'SKF (Stockholm: SKFB.ST - news) plans to acquire the investment arm soon,' the official said. ABBA Linear, a manufacturer of profile rail guides, will be part of the SKF Actuation & Motion Control business unit within the Industrial Division, the Swedish group said earlier. The Swedish group said that with the addition of ABBA Linear's product range, SKF is reinforcing its position in linear guides. 

The SKF group said the acquisition is in line with its strategy to strengthen its different technology platforms and expand in Asia.
(1 usd = 33.10 twd)