Pierer Industrie to acquire a 9.6% stake in LEONI for $46m.

Pierer Industrie, a global automotive niche company, offered to acquire a 9.6% stake in LEONI, a manufacturer of wiring systems used in the automotive, healthcare, communications, and infrastructure industries, for $46m. Pierer Industrie currently holds 15.3% of the voting rights of LEONI. The transaction serves the further strategic expansion of the existing participation to up to 24.9% of the voting rights. The offer document will be published after the Federal Financial Supervisory Authority (BaFin) has authorized the publication.