	echlin ech buys stake in champion parts creb champion parts rebuilders inc said echlin inc has bought a pct stake in it by uiring newly issued shares and warrants to buy another shares at dlrs each for a total investment of dlrs the newly issued shares raises champion s outstanding shares to there are no voting restrictions on the new shares champion s board will be expanded to include two or three independent persons suggested by echlin it said champion will use the proceeds to pay down long term debt it said echlin has agreed to limits on buying additional champion shares and its ability to seek control of champion during the next seven years champion said echlin will also receive protection against the decline in price of champion s stock for seven years echlin could receive a one time payment at its option in cash or stock ranging from up to one dlrs a share in to four dlrs a share in to to the extent the market price of champion shares is less than nine dlrs a share at those times reuter 
