sur VARTA AG (isin : DE0005001002)
VARTA AG's Restructuring Plan Approved by Stuttgart Court
On December 11, 2024, VARTA AG announced that the Stuttgart restructuring court has confirmed its restructuring plan. This confirmation came after a majority vote in favor of the plan on November 25, 2024. The plan includes a reduction of the company's share capital to zero, leading to the exit of current shareholders without compensation and delisting of shares.
VARTA will introduce a capital increase worth €60 million, involving contributions from entities controlled by Dr. Dr. Michael Tojner and Dr. Ing. h.c. F. Porsche AG. The company aims to cut its existing €485 million debt by approximately €255 million through a haircut. A new €60 million senior loan will cover liquidity needs.
The restructuring plan is set to be implemented after legalities are completed, ensuring sustainable financing and future growth.
R. P.
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