- Varta explores scenarios that could involve Porsche
- This option focuses on restructuring debt
- Porsche has confirmed ongoing discussions
German battery maker Varta is exploring two restructuring scenarios that could involve luxury carmaker Porsche taking a stake in the company.
Varta stated they might not meet their current restructuring goals and are seeking financial solutions to return to profitability by 2026. The two options under consideration involve:
- New Investors: This scenario includes existing majority shareholder Michael Tojner and potentially Porsche as new investors.
- Financial Creditors: This option focuses on restructuring debt with Varta’s current creditors.
Potential Porsche Stake: Both scenarios would require a significant financial restructuring of Varta. This could lead to a reduction of existing shareholder ownership (except Tojner) and delisting of Varta shares. Additionally, some creditors would likely face debt reduction and claim deferrals.
While neither proposal is guaranteed shareholder approval, Varta is seeking court approval to implement the restructuring regardless.
Porsche has confirmed ongoing discussions to acquire a majority stake in Varta’s V4Drive business through a potential investment. They’ve also expressed interest in a broader financial restructuring of Varta itself under the right circumstances.
A final decision on the restructuring approach is expected soon. The chosen plan will likely involve hundreds of millions of euros in debt or a combination of debt and equity financing.
