GERMANY - The Schürfeld Group, Hamburg, announced on November 2 to Surteco Group SE that it would increase its stake in the company.

The Schürfeld Group also announced that it already holds approximately 4.6% of the shares in Surteco Group SE through PKG Schürfeld GmbH.

PKG Schürfeld GmbH today concluded an agreement to acquire a further stake in Surteco Group  SE amounting to around 15.7% of the share capital, which is to be completed in January 2021.

With the execution of the purchase agreement, the participation of PKG Schürfeld GmbH in Surteco Group SE will increase to a total of approx. 20.34%. The seller of the shares is Klöpfer & Königer Management GmbH, Garching. Klöpfer & Königer had terminated its membership in the Surteco shareholder pool at the end of December 31, 2020.

According to the Schürfeld Group, the execution of the purchase agreement will probably take place at the beginning of January 2021. It is subject to the necessary antitrust approvals.

Surteco Group SE  is a leading global manufacturer of decorative surface coatings processed mainly by the flooring, wood-based and furniture industry.