VARTA AG secures EUR 60m financing

Niederer Kraft Frey acted as Swiss counsel to VARTA AG in connection with the successful completion of VARTA AG’s financial restructuring measures under the German StaRUG (German Act on Sabilisation and Restructuring Framework for Companies). As part of this transaction, VARTA AG secured EUR 60 million in new financing, while reducing existing debt by EUR 255 million.

These measures ensure that VARTA AG, a producer of a diverse range batteries including micro batteries, household batteries, energy storage systems and customer-specific battery solutions, will now be able to focus on the growth of its core business, continuing to set industry standards in the field of high-end energy storage solutions.

The NKF team was led by M&A/Finance partners Adrian Koller and Philip Spoerlé, working with junior associates Manuel Constam and Géraldine Küderli (both M&A/Finance) and partner Markus Kronauer (Tax).