Yankuang Energy Group Company Limited (SEHK:1171) agreed to acquire 51% stake in SMT Scharf AG (XTRA:S4AA) from a group of shareholders for ?31.2 million on March 1, 2024. As per the transaction, Yankuang Energy Group Company Limited will acquire 2.8 million shares at ?11.1 per share. The shareholders, including Shareholder Value Beteiligungen AG, will transfer their stake in the amount of approximately 52.66% of the share capital of SMT Scharf AG to Yankuang Energy Group Company Limited, at a price of ?11.10 per share.

The price per share is still subject to a fixed adjustment mechanism depending on certain variables until the closing of the transaction, which may lead to a deduction of the price per share. The closing of the agreement is still subject to the occurrence of customary closing conditions, in particular the conclusion of investment control proceedings in Germany and government regulatory approvals in other jurisdictions of subsidiaries of SMT Scharf AG as well as the approval of the competent Chinese authorities. The funds for the transaction are entirely borne by Yankuang Energy.