VARTA AG Reaches Agreement on Restructuring Plan

VARTA AG has secured an agreement with financial creditors and strategic investors on a restructuring plan designed to ensure a sustainable business perspective. The key components of the agreement include securing long-term funding needs, obtaining €100 million in new funds, and reducing financial liabilities to €260 million.

The restructuring involves a significant capital reorganisation. Financial liabilities will be reduced from €485 million to €200 million. Additionally, VARTA AG’s share capital will be reduced to zero, followed by a capital increase injecting €60 million in new equity and €60 million through a senior secured loan.

DDr. Michael Tojner and Porsche will become shareholders following the recapitalisation. CFO Marc Hundsdorf highlighted that the restructuring will stabilise the company's financial position and enable VARTA to realise its potential for innovation and technology leadership. CRO Michael Giesswein acknowledged the balanced consideration of all stakeholders’ interests.

The capital increase will see investment from Porsche and MT InvestCo, with existing lenders providing the new senior financing. This plan aims to stabilise VARTA AG and support its business and technology investments until 2027, significantly reducing its debt and ensuring long-term financing.