Yankuang Energy Group Acquires Majority Stake in SMT Scharf AG

Yankuang Energy Group Company Limited, a major Chinese energy corporation specializing in coal mining equipment manufacturing, has acquired approximately 52.66% of SMT Scharf AG shares. The transaction, priced at EUR 11.10 per share, hinges on fixed adjustments and is subject to several regulatory approvals. Scheduled for completion following customary closing conditions, this acquisition marks a significant shift in SMT Scharf AG's shareholder structure.

SMT Scharf AG, a global leader in custom underground mining transport and logistics solutions, views the acquisition as an opportunity for strategic growth and development. The management expresses optimism about leveraging Yankuang's industry expertise to foster synergies and further their business objectives. Both entities are committed to maintaining an active dialogue to enhance the group's market position.

Following the transaction, SMT Scharf AG plans to apply for the shares' admission to the Regulated Market of the Frankfurt Stock Exchange, an essential step that underlines the company's growth ambitions. This strategic move is expected to not only cement SMT Scharf's position in the underground mining industry but also potentially unlock new opportunities in markets where Yankuang Energy Group has a significant presence.