Branicks Group AG Secures Extension of Financing and Announces Supervisory Board Changes

Branicks Group AG has accomplished a vital restructuring milestone by securing an extension for its promissory note loans and bridge financing, alongside announcing forthcoming changes in its Supervisory Board leadership. In a decisive meeting, a significant 96% of the lenders approved the extension of promissory note loans totaling EUR 225 million, originally due to mature in 2024, to June 30, 2025. This approval was followed by the Frankfurt district court confirming the restructuring plan, ensuring the company’s financing stability.

The company also reached an agreement with the lenders of bridge financing for the acquisition of VIB Vermögen AG shares in 2022. This agreement includes an immediate repayment of EUR 40 million and extends the term for the remaining EUR 160 million until December 31, 2024. These financial maneuvers are based on corporate planning up to the end of 2026, independently reviewed for plausibility by FTI-Andersch.

Following these developments, Branicks Group AG intends to initiate changes in its leadership, with the Supervisory Board expected to appoint a new chairman by mid-April 2024. The current chairman, Prof. Dr. Gerhard Schmidt, will retain his position on the board and continue chairing the Supervisory Boards of VIB Vermögen AG and BBI Bürgerliches Brauhaus Immobilien AG.