Industry: Investors in focus - Varta hopes for a quick solution in insolvency proceedings
The insolvency administrator of Varta sees chances of a sale of the battery manufacturer in the next few months despite insolvency. What this means for the locations and employees.
Stuttgart - The insolvency administrator for the struggling battery manufacturer Varta expects an investor solution for the company in the coming months, according to Tobias Wahl of the law firm Anchor in Ellwangen. He stated that the market interest in Varta's technological core competencies remains unchanged and that a successful conclusion of the sale process is expected within the upcoming months.
It was not disclosed by Wahl's spokesperson whether the potential investors were financial investors or industrial companies.
The insolvency administrator emphasized that the clear objective of the proceedings is to work out a future-proof continuation solution that ensures the company's survival. Varta AG, the parent company, as well as three other units, initially filed for an insolvency procedure in-house administration in mid-July. The business unit dealing with household batteries, which the group wanted to be relieved of, was not affected. The four units were initially placed in a classical provisional insolvency procedure.
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