STOCKHOLM, Sweden, May 03, 2004 (PRIMEZONE) -- Powerwave Technologies, Inc. ("Powerwave") has today announced completion of the offer to the shareholders of LGP Allgon Holding AB ("LGP Allgon") and that Powerwave through the offer, together with exercised options issued by main shareholders, has acquired 96.7 per cent of the capital and votes of LGP Allgon.
In connection with the change in ownership, LGP Allgon's President & CEO, Bengt Broman, and CFO, Claes Silfverstolpe, will be leaving the Group.
Johan Ek, Executive Vice President and VP Operations of LGP Allgon, has been appointed new President of LGP Allgon Holding AB, as well as head of the European operations of the Powerwave Group.
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