BayWa, a German agricultural group, announced the completion of the second draft restructuring report, indicating a potential final commercial agreement on the restructuring solution's contractual documentation by the end of 2027. The report includes several cost-cutting measures and the sale of significant international affiliated companies. BayWa anticipates an improved equity ratio post-transformation and expects to generate normal market earnings.
The final restructuring report is targeted for release by the beginning of the second quarter of 2025. The company, which is based in Munich and specializes in trading farming supplies and produce, has faced challenges with increasing borrowing costs, leading to the initiation of a restructuring plan with the first draft completed in September. Additionally, the departure of the CEO and CFO was announced in October.
Source: Reuters