VARTA AG Secures Restructuring Agreements and Bridge Financing

VARTA AG has achieved a significant step in its restructuring plan by finalizing critical agreements and securing bridge financing. On October 7, 2024, the company signed a lock-up agreement with syndicated loan lenders and promissory note lenders to support its restructuring efforts under the German Corporate Stabilisation and Restructuring Act.

Additionally, VARTA AG secured a commitment from its current majority shareholder, MT InvestCo, and Porsche to provide €60 million in new equity capital. This capital injection will follow a capital decrease and is contingent on antitrust approval.

Moreover, VARTA AG arranged a short-term bridge facility of up to €30 million with some syndicated lenders to maintain financial stability during the StaRUG proceedings. The management board is confident that these measures will secure the necessary support for the restructuring plan's approval.