Porsche in Talks With Creditors BlueBay, Hayfin Over Varta Deal
- Carmaker, Varta creditors seek to find compromise on debt plan
- Blantyre, Deutsche Bank also part of the creditor group
Battery maker Varta AG has been in talks with creditors and potential new investors as it struggled with a slump in demand in its core markets.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Varta AG’s creditors including RBC BlueBay Asset Management are in talks with Porsche AG to join forces on a restructuring deal for the embattled battery maker.
The creditor group, which also includes Blantyre Capital, Deutsche Bank AG and Hayfin Capital Management, is seeking to find a compromise with the luxury sportscar maker after proposing an alternative plan last week, according to people familiar with the matter, who asked not to be named because they aren’t authorized to talk about it.