Kronospan affiliate Banasino prepares mandatory offer for Surteco

Banasino Investments S.à.r.l., an affiliate of Kronospan, has raised its stake in Surteco Group SE to 30% by early October, triggering a mandatory offer to all shareholders under German law. Following its acquisition of an additional minority stake on October 4, 2024, Banasino will offer Surteco shareholders the option to sell their shares at the statutory minimum price. The offer will be published after approval from the Federal Financial Supervisory Authority (BaFin). This step strengthens Kronospan's influence within Surteco, a major player in the furniture and wood products industry ...