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LEGRAND ACQUIRES KONTAVILL IN HUNGARY

 BUDAPEST, Hungary, Jan. 15 /PRNewswire/ -- The French-based multinational Legrand, present in 28 countries and world leader in low voltage electrical fittings and accessories, announced today that it has acquired from the Hungarian State 98 percent of Kontavill, the largest Hungarian company in the same field of activity.
 Kontavill is located in the center of Hungary and has annual sales of 1 billion Hungarian forints (about U.S.$12 million).
 In the near future the company will increase its capital, providing for a 12 percent employee ownership.
 The association with Legrand opens for Kontavill important possibilities for technical and marketing development.
 This transaction has been implemented within the framework of the new decentralized privatization program of Hungary's State Property Agency (the Hungarian State's privatization agency). The State Property Agency was represented in this transaction by Budapest Holding.
 The Budapest office of the Washington-based law firm of Arnold & Porter acted as legal adviser to Legrand in the transaction.
 Charles Ranunkel, president of the Paris-based R.O.I., conducted the acquisition negotiations on behalf of Legrand.
 -0- 1/15/93
 /CONTACT: Christine Ranunkel of R.O.I., 33-1-42-56-76-00, or Theodore S. Boone of Arnold & Porter, 202-872-5712/


CO: Legrand; Kontavill; Arnold & Porter; R.O.I. ST: IN: SU: TNM

DC -- DC007 -- 5351 01/15/93 12:03 EST
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Publication:PR Newswire
Date:Jan 15, 1993
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