Varta

The Federal Ministry for Economic Affairs has initiated an investment review procedure for takeovers of parts of Varta because the company also produces specialty batteries for military applications. The consumer division making household batteries is under the control of a group of creditors and continues to operate normally; it is not part of the parent group's insolvency proceedings or those of other units. Interim insolvency administrators are preparing a structured sales process and point to numerous interested parties; about 2,300 employees work at the four affected companies. » More on faz.net

At the end of July Varta filed for insolvency for four business units with around 2,300 employees; the profitable household battery division had been spun off beforehand and remains outside the insolvency. As a result, Varta lost major customers such as Apple, new shareholders did not provide capital, creating a structural financing gap. Insolvency administrator Tobias Wahl intends to stabilize operations and launch a structured sales process with multiple interested parties, but does not rule out a break-up. In 2024 the affected group generated sales of about €800 million. » More on sueddeutsche.de

The provisional insolvency administrator of Varta reports a large number of interested parties for a potential investor solution, without naming types of investors. The goal is a sale to an investor and the preservation of jobs, with the energy storage market described as an industry of the future. Four units of the group are now in standard provisional insolvency proceedings; the household batteries division is not affected. An inventory and analysis are currently underway, with the focus on securing operations; possible job losses remain uncertain. » More on finanzen.net