Endurance Technologies Acquires Remaining 32% Stake in Stoeferle Entities for €18M

Endurance Technologies Ltd, through its wholly-owned subsidiary Endurance Overseas SpA, Italy, has accelerated the acquisition of the remaining 32% equity stake in Stöferle Automotive GmbH and Stöferle GmbH, Germany. The deal was executed via an Amendment Agreement to a prior Share Purchase Agreement for an upfront cash consideration of €18 million. This acquisition grants Endurance Technologies full ownership of the 'Stöferle entities', which specialize in machined aluminum castings for automotive applications. The accelerated purchase, originally planned over four years, was motivated by achieving full ownership, aligning management, and securing economic benefits from a reduced acquisition cost. The transaction is considered a related party transaction but is conducted on an arm's length basis and is deemed beneficial to the company.