BayWa Debt Talks to Intensify After Restructuring Report
- Restructuring over several years is prerequisite, report says
- Firm in talks for more bridge financing, standstill extension
This article is for subscribers only.
German commodities group BayWa AG said the first draft of a report it commissioned found the company can be restructured under certain conditions, providing the basis for further negotiations over its €5 billion ($5.6 billion) debt load.
“Restructuring over a period of several years is the prerequisite for reorganisation,” it said in a statement. “The draft of the report considers numerous operating-level cost-cutting measures as necessary in restructuring and also envisions the sale of individual business divisions.”