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Canada's Linamar raises stake further in Hungarian unit

Canada's Linamar Corporation raised its stake in its majority-owned Hungarian unit, the farm-machinery manufacturer and automotive-industry supplier Linamar Hungary, to 8,518,222 or 99.28% through buying an additional 4,377 shares on the Budapest Stock Exchange on September 2 and 3, the Hungarian company said on Monday. The Canadian company bought the shares at an average price of HUF 2,570. The majority owner purchased 2,469,728 shares at the same price in the Hungarian company at a private auction on July 2, 2010, raising its stake to 99.03%. (MTI-Econews)