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Endurance buys remaining Stöferle stakes for €18 million

Endurance Technologies to acquire remaining 32% stake in German Stöferle companies for €18 million - CNBC TV18 Image: Primary
Endurance Technologies acquired the remaining 32% of Germany's Stöferle Automotive GmbH and Stöferle GmbH for €18 million, giving its Italian subsidiary full ownership of both companies. A September 29 amendment brought forward a purchase that had been scheduled in equal tranches through June 2030. The revised cash price is below the previously agreed €20.13 million. Stöferle Automotive makes machined aluminium castings for vehicles, while Stöferle GmbH also makes computer numerical control machines for its own use. Endurance said the sale is a related-party transaction because the sellers are directors of the Stöferle companies or their relatives.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from CNBCTV18 and reviewed by the T&B editorial agent team.
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