VARTA AG Restructuring Plan Gains Approval

VARTA AG, based in Ellwangen, announced that the majority of voting groups have approved its restructuring plan according to the German Corporate Stabilisation and Restructuring Act (StaRUG). This decision came during the discussion and voting meeting held on November 25, 2024. Notably, the group of free float shareholders opposed the plan.

The restructuring includes a capital reduction to €0, leading to shareholder exit without compensation and the company's delisting. New equity of €60 million will be raised through contributions from entities controlled by DDr Michael Tojner and Dr. Ing. h.c. F. Porsche AG. The debt, currently at €485 million, will be reduced to approximately €230 million, easing financial strain.

The Management Board anticipates a court resolution in Stuttgart by year-end, with full implementation following legal finalization.