System Industrie Electronic Holding AG and Dipl.Ing. Peter C. Weilguni agreed to acquire 80.1% stake in Elektromotorenwerk Grünhain GmbH from MS Industrie AG (XTRA:MSAG) on December 16, 2020. Under the transaction, System Industrie Electronic Holding AG will acquire 70.1% while Dipl.Ing. Peter C. Weilguni, Managing Director of Elektromotorenwerk Grünhain will acquire 10% of the shares of Elektromotorenwerk Grünhain GmbH. Following the sale, MS Industrie AG will hold 19.1% stake in Elektromotorenwerk Grünhain GmbH and actively support the further development of the company with the two locations in Grünhain-Beierfeld and Gabrovo/Bulgaria. Elektromotorenwerk Grünhain GmbH reports annual turnover of approximately €20 million. The transaction is expected to close on January 1, 2021. Roman Rericha and Stephan Strass of Brandl & Talos Rechtsanwälte GmbH and Tim Schloesser of SMP Law acted as legal advisors to System Industrie Electronic Holding AG.