Oct 13, 2005. /Lesprom Network/. Germany's Pfleiderer AG Thursday said it completed negotiations regarding the adjustment of terms and conditions applicable to its acquisition of the Kunz Engineered Wood Group, which have led to a EUR20 million reduction in the purchase price. In view of restructuring initiated by the Kunz Group in its North American panel activities and the expenses involved, both sides have agreed on an acquisition price for all holdings involved at around EUR192 million, which includes the Classen Group's minority holding in the Kunz Group's MDF plant at Baruth. The assumption of bank and leasing liabilities by the Pfleiderer AG, amounting to 267 million euros net as of December 31, 2004, remains unaffected. An amendment to the initial agreement reflecting the adjustment terms and conditions was signed earlier Thursday. Both sides are now working towards completing the deal during the fourth quarter of 2005. In view of the changes to the time schedule for completion, the Board of Management of Pfleiderer AG has decided not to initiate a capital increase in fiscal year 2005. The decision regarding a capital increase has now been postponed until 2006. Shares in German wood processing firm Pfleiderer jumped as much as 7% on Thursday after it said it will not need a capital increase this year to fund the planned acquisition of a rival. By 0912 GMT, the stock was up 6.9% at 16 euros, making it by far the top mid-cap MDAX gainer. Pfleiderer had signed the Kunz deal in June, but the implementation had been delayed due to Kunz's problems in North America. Under the deal, Pfleiderer will also assume Kunz's liabilities, which stood at 267 million euros at the end of 2004.