Foxconn buys S&T shares in capital hike

Ennoconn

13/10/2016 08:01

FRANKFURT, Oct 13 (Reuters) - Taiwan's Ennoconn  6414.TW , 
part of the world's largest contract electronics manufacturer 
Foxconn  2354.TW , has bought new shares in Austrian IT group 
S&T AG  SANT1.DE  from a 10 percent capital increase and will 
further raise its holding to 29.4 percent, S&T said. 
    S&T said on Thursday it would use the funds from the capital 
increase to buy a 29.9 percent stake in German computer maker 
Kontron  KBCG.DE , adding it had no plans to buy further shares 
in the group or make a full takeover offer. 
    S&T said it saw important synergies in a relationship with 
Foxconn and Kontron, without providing financial details. 
    "Using S&T's software engineering resources, the three 
companies have the potential to be a world leader in the fields 
of Internet of Things and Industry 4.0," it said. 
 
 (Reporting by Maria Sheahan; Editing by Edward Taylor) 
 ((maria.sheahan@thomsonreuters.com; +49 69 7565 1286; Reuters 
Messaging: maria.sheahan.thomsonreuters.com@reuters.net)) 
 
Keywords: S&T AG M&A/FOXCONN