The purchase will be made via ST Engineering unit, Singapore Technologies Electronics Ltd (ST Electronics), which has entered into an agreement to buy Nera shares held by majority shareholder Eltek ASA. Eltek controls 50.05 percent of Nera. ST Electronics intends to take Nera private, ST Engineering said. ST Engineering said the acquisition is expected to be financed by internal cash resources and named PricewaterhouseCoopers Corporate Finance Pte Ltd as its financial adviser. Nera shares finished 5.26 percent higher on Friday at S$0.50 apiece, above the S$0.45 offered by ST Electronics. ST Engineering provides services to the aerospace, electronics, land systems and marine sectors. It is also the city-state's main arm maker.