NKF with Varta on financial restructuring transaction
Niederer Kraft Frey (NKF) acted as Swiss counsel to German battery manufacturer Varta in connection with the successful completion of a financial restructuring under the German StaRUG. Pursuant to the transaction, Varta secures EUR 60 million in new financing, while reducing existing debt by EUR 255 million.
The context
Globally active in the battery technology field, Varta’s product portfolio includes micro batteries, household batteries, energy storage systems and customer-battery solutions.
In July 2024, the company embarked on a complex financial restructuring under the German StaRUG (German Act on the Stabilisation and Restructuring Framework for Companies).
The NKF team
M&A/finance partners Adrian Koller (pictured left) and Philip Spoerlé (pictured right) co-led the NKF team on the matter, working alongside junior associates Manuel Constam and Géraldine Küderli (both M&A/Finance), as well as partner Markus Kronauer (tax).
