newsbytes@clarinet.com (01/18/90)
MUNICH, WEST GERMANY, 1990 JAN 17 (NB) -- Siemens, the West German electronics giant, has agreed in principle to take a majority stake in Nixdorf, another West German company specializing in computers, one which has recently hit troubled times. Financial details of the deal have not been released. In a press statement issued this week, Siemens said that it had reached agreement with the Nixdorf Foundation and two other organizations which hold more than 70 per cent of the company's shares, to take over their holdings. The deal is conditional on the relevant authorities in Europe granting assent to the share transactions. According to Der Spiegel, a West German newspaper, Nixdorf is expected to announce a DM 1,000 million ($620 million) loss during for 1989. The expected 1989 losses come in the wake of disappointing 1988 profit figures, the paper said. (Steve Gold/19900117)