ADC acquires additional 11% interest in KRONE India from KEONICS. It shall pay Rs. 169 per share. KEONICS presently holds 506,000 shares.

KRONE Communications Ltd. (KRONE India) has announced that ADC (Nasdaq:ADCT, www.adc.com), a leading provider of communications network infrastructure solutions has agreed in principal to acquire an additional 11% interest in KRONE India from Karnataka Electronics Development Corporation Ltd. (KEONICS) through its subsidiary ADC GmbH. ADC has entered into the agreement with KEONICS to acquire KEONICS' entire interest in KRONE communications India ltd. It shall pay KEONICS Rs.169 per share. KEONICS presently holds 506,000 shares. The closing of this proposed transaction remains subject to certain conditions. Following the closing of the transaction ADC GmbH will hold a 62% ownership interest in KRONE India . 

In 2004 ADC acquired the KRONE group worldwide. However the India operations continued to be a publicly listed Joint Venture between ADC GmbH which held 51%, KEONICS which held 11% and 38% by public.

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