Ingram Micro Completes Stock Purchase

Ingram Micro Inc. said Wednesday it has completed its purchase of a minority stake in a Singapore company that distributes electronics components. Ingram, the world’s biggest wholesale computer parts distributor, owns 21% of Electronic Resources Ltd.’s stock, or 50 million shares. The Orange County firm, which picked up the stock for an estimated $66.8 million to help solidify its presence in the Asian market, has an option to buy an additional 8.4% of Electronic Resources’ shares by April 1999, Ingram officials said.