SMT Scharf AG Welcomes Yankuang Energy Group as New Core Shareholder and Plans for Market Upgradation

SMT Scharf AG announced a significant change in its shareholder structure, with Yankuang Energy Group Company Limited acquiring a majority stake. The agreement was made on March 01, 2024, for approximately 52.66% of SMT Scharf AG at EUR 11.10 per share, subject to adjustments. This strategic move awaits regulatory approvals and other customary closing conditions. Yankuang Energy Group, a leading Chinese energy conglomerate with interests across several industries, aims to reinforce SMT Scharf's market position.

Additionally, SMT Scharf AG is aiming for the shares' admission to the Regulated Market of the Frankfurt Stock Exchange and its Prime Standard sub-segment. This step is planned following the transaction's completion, marking a significant milestone for the company in enhancing its financial and operational framework.