Sources and links on page 38 (3)
Links embedded in the original report PDF, including citations and other references. These destinations have not been independently reviewed. Links open in a new tab.
- https://www.varta-ag.com/en/about-varta/news-press/details/varta-ag-announces-financial-reorganization-with-starug-proceedings
- https://www.eqs-news.com/news/adhoc/varta-ag-varta-ag-announces-approval-of-the-restructuring-plan-according-to-starug-by-the-majority-of-the-groups/2173601#:~:text=As%20already%20communicated%20on%20September,delisting%20of%20the%20Company's%20shares.
- https://newsroom.porsche.com/en/2024/company/porsche-varta-deepen-strategic-partnership-37095.html
Text on page 38
VARTA AG Approved A Financial Restructuring Plan, Secures Investment From Porsche The 130-year-old German-based company became heavily indebted and began a financial reorganization under the German Corporation Stabilization Act (StaRUG) in June 2024
Varta produces a wide variety of battery technologies that have seen declines in market demand but the company’s subsidiary, V4Drive, produces large format lithium-ion batteries used in some Porsche vehicles
As a result of the reorganization, the company’s shares were delisted from the Frankfurt stock exchange at zero value and its €485 million debt was reduced to €200 million
A longtime investor in the company and Porsche AG invested €60 million with the latter gaining a 50% stake in Varta AG and a 70% stake in the V4Drive subsidiary
Sources: Linked above to various news articles
Extracted from the PDF; charts and images may read imperfectly.
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