Deals
Porsche Mulls Buying a Stake in Troubled Battery Maker Varta
- Luxury-car maker may acquire minority stake in whole group
- Potential deal is one of Varta’s debt restructuring options
Porsche AG aims to not only get involved in Varta’s e-mobility battery unit but also to acquire a minority stake in the entire group.
Photographer: Alex Kraus/BloombergThis article is for subscribers only.
Porsche AG is considering taking a stake in Varta AG, according to people familiar, as the embattled battery producer weighs options to restructure its debt.
The German luxury-car maker aims to take a majority stake in Varta’s e-mobility battery unit as well as a minority interest in the entire group, said the people, who asked not to be named as the matter is private. Porsche confirmed it was open to taking a larger role in Varta’s restructuring “to keep this key technology in Germany.”