May 9, 2014 - Assignment

Beijer Electronics divests US Vehicle division

U.S.-based Beijer Electronics Inc., a wholly owned subsidiary of Beijer Electronics, a Swedish publicly traded corporation, has divested its US Vehicle business to Micronet Ltd, a subsidiary of Micronet Enertec Technologies, Inc. (NASDAQCM: MICT).

Beijer Electronics is a technology company with extensive experience of industrial automation and data communication, present in 22 countries and with sales of approximately SEK 1.4 billion in 2013. After the divestment, Beijer Electronics will continue to develop its US business by focusing on the sale of Human-Machine Interface panels to the industrial market.

Beijer Electronics was advised by Mannheimer Swartling in the transaction. The firm’s team included Hans Petersson in Sweden and Hampus Thofte in New York, primarily assisted by Jakob Wijkander.