Porsche takes majority stake in Varta’s battery production unit
- Admin
- Sep 6, 2024
- 1 min read
German battery maker Varta AG has reached a restructuring agreement with creditors, reducing debt to €200 million. Porsche becomes majority stakeholder in V4Drive Battery GmbH. Company's financing and liquidity stabilized. The agreement involves Porsche and current owner Tojner holding around 32% each, with lenders holding 36%. Majority takeover of V4Drive awaits antitrust approvals. Porsche aims to drive company forward and keep key technologies in Germany. Construction of booster cell production facility in Nördlingen to continue.
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