BayWa

Baywa plans to sell the highly loss-making green-power subsidiary Baywa r.e. shortly to a transformation investor; details of the new ownership structure are to be announced in a few weeks. The sale is likely to yield only about €900 million instead of the originally expected €1.7 billion, and Baywa and co-investor EIP are expected to waive outstanding claims against Baywa r.e. The restructuring plans for Baywa and r.e. are likely to be extended until 2030; Baywa also plans to gradually exit energy businesses (sale of the heating and mobility divisions by 2029) and refocus on agricultural trading, agricultural machinery and building materials. » Mere på finanzen.net

Highly indebted agricultural group BayWa is postponing its planned restructuring by two years and now aims to complete it by the end of 2030. Management, creditor banks and major shareholders have in principle agreed to extend the bank loans; banks intend to convert €700 million into a subordinated instrument. The two major shareholders are to transfer their roughly 67% stakes into trusteeship, with return only if at least €220 million in new capital is injected in 2029. The decision follows a significant write-down at renewables unit BayWa r.e., which is expected to fetch about €800 million less and has rendered the original plan to cut debt by €4 billion by the end of 2028 obsolete. » Mere på finanzen.net

BayWa has pushed its targeted financial recovery from the end of 2028 to the end of 2030 after its renewables unit BayWa r.e. will bring in significantly less proceeds than expected. Banks and the two major shareholders have broadly agreed to extend loans and make concessions: banks want to convert €700m into a subordinated instrument, and the major shareholders are to transfer their stakes into trust and will only get shares back in 2029 if at least €220m is provided. The original plan to reduce debt by about €4bn by 2028 is therefore no longer realistic; a new restructuring agreement is expected by autumn. » Mere på finanzen.net

The Dortmund DIY chain Hellweg has filed for insolvency under self-administration; parallel proceedings are underway for BayWa’s building and garden stores. More than 4,000 employees are affected in total: Hellweg operates 68 stores and employs around 2,900 people, BayWa 46 locations with 1,300 employees. The restructuring is being handled by Görg attorneys, a provisional trustee has been appointed, and the stores and online shops will remain open for now; employees will receive three months’ insolvency pay. Decisions on the store network, possible closures and the search for investors are expected in the autumn. » Mere på wiwo.de

BayWa has had three new supervisory board members appointed by court order; they are to stand for election at the next ordinary general meeting. The selection followed a competence profile emphasizing sector experience, functional expertise and personal suitability criteria. The date of the general meeting depends on completing the consolidated financial statements for 2025, no later than October 30. As long as the group’s restructuring is ongoing, investors should remain cautious. » Mere på finanzen.net