Bosch Buys Buderus Stake Jan 2, 2003

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Deutsche Bank said it sold its 7.5-percent stake in heating equipment maker Buderus for about 100 million euros (U.S. $105 million) to focus on its ailing banking business. Robert Bosch said separately that it had bought a total of 13.35 percent of Buderus at "current market conditions," without identifying the other sellers or indicating whether it plans to revive an earlier takeover bid rejected by Buderus. Bosch, which supplies auto parts and makes consumer goods such as power tools and washing machines, has said it wants to reduce its dependence on the auto industry. (Seattle Post)

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