BayWa AG Initiates Restructuring under StaRUG Framework

BayWa AG has announced its intention to begin a restructuring project under the German StaRUG framework. This move aims at the legally compliant implementation of their financing concept. The company plans to submit a restructuring plan to the Munich Local Court swiftly. Notably, the operations of BayWa's suppliers, customers, employees, and subsidiaries remain unaffected.

The restructuring involves a long-term reorganisation agreement, set to extend until 2027, supported by most financial creditors. However, a few creditors haven't consented yet. The StaRUG process will facilitate the inclusion of these creditors into a comprehensive resolution.

Major shareholder support ensures the necessary majority for the StaRUG procedure. The conclusion of the restructuring agreement is anticipated by April 2025. A planned €150 million capital increase will further simplify the StaRUG process.

BayWa AG's operational business remains untouched, though the publication of financial statements for 2024 might be delayed.