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June 18, 1996

WILLIAMS HOLDINGS SELLING ELECTRONICS UNIT FOR $109.6 MILLION

LONDON (AP) -- British conglomerate Williams Holdings PLC said Monday it will sell its SAIA Burgess Electronics division to a management buyout group for 71 million pounds ($109.6 million).

The sale continues Williams' plan to concentrate on its fire protection, security and building products businesses.

The management group is led by investment bank SBC Warburg, which has a 37 percent stake in SAIA. QCM Partners Ltd. will hold a 33 percent stake, while Williams will retain a 20 percent stake. SAIA management will also hold a 10 percent interest.

SAIA, based in Murten, Switzerland, makes switches and electromechanical motors. The company last year earned 8.1 million pounds on sales of 109 million pounds.

Williams said it will reinvest 6.6 million pounds of the sale proceeds in its stake in SAIA, while the rest will be used to reduce debt.

The sale price is subject to adjustment. Williams expects the deal to receive regulatory approval for the deal next month.

Earlier this month, Williams bought Brazilian lock company La Fonte, as well as security and fire-protection businesses in China, the United States and Italy. It also bought the lock business of Black & Decker in 1994 among several acquisitions that year.




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