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Endurance Technologies Ltd
Announcement under Regulation 30 (LODR)-Updates on Acquisition
05:51 PM, 2nd Apr 2025
In continuation to the intimation given by the Company on 12th December 2024 regarding signing of the Share Purchase Agreement (SPA) by Endurance Overseas SpA subsidiary of the Company to inter alia acquire 60% stake in Stoferle GmbH and Stoferle Automotive GmbH Germany ( Target Companies) respectively we further inform pursuant to Regulation 30 of the Listing Regulations that the last approval of Antitrust authorities for abovementioned acquisition has been received by Endurance Overseas SpA.Accordingly Endurance Overseas SpA has today i.e. 2nd April 2025 completed the formalities for acquisition of 60% stake in the Target Companies as per SPA and paid the agreed consideration of 37.74 million Euros. With this the Target Companies have now become direct subsidiaries of the Company.