VARTA AG

M&A Activity • Jul 4, 2024

News Details

Ad-hoc | 4 July 2024 23:00

VARTA AG: VARTA AG in talks with Porsche about investment in V4Drive business

VARTA AG / Key word(s): Investment

VARTA AG: VARTA AG in talks with Porsche about investment in V4Drive business

04-Jul-2024 / 23:00 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

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VARTA AG, Ellwangen, ISIN: DE000A0TGJ55

Release of inside information pursuant to Article 17 of Regulation (EU) No 596/2014

VARTA AG in talks with Porsche about investment in V4Drive business

Ellwangen, July 4, 2024

VARTA AG is currently in negotiations with Dr. Ing. h.c. F. Porsche AG (“Porsche”) regarding a possible investment by Porsche in the business unit for large-format lithium-ion round cells (V4Drive) by means of a majority shareholding in V4Drive Battery GmbH, a wholly-owned subsidiary of VARTA AG. VARTA AG and Porsche have already entered into a non-binding term sheet and the parties are in the first phase of agreeing on the documentation for such a transaction. In the run-up to the implementation of Porsche’s investment, it is planned in a first step to transfer VARTA’s V4Drive business to V4Drive Battery GmbH and then to have Porsche participate via a capital increase. Whether Porsche will actually make a corresponding investment depends on various factors, including the successful completion of a due diligence review currently being carried out by Porsche and the approval of certain stakeholders of the VARTA Group. Whether Porsche will carry out an investment is currently still open.

The ongoing process of updating the existing IDW-S6 expert opinion and possible adjustments or further restructuring and subsequent financing measures communicated on April 11, 2024 has not yet been completed. The company is still in the process of developing options with regard to potential recapitalization and financing measures.

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End of Inside Information

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Language:	English
Company:	VARTA AG
	VARTA-Platz 1
	73479 Ellwangen
	Germany
Phone:	+49 (0)791-921-0
E-mail:	info@varta-ag.com
Internet:	www.varta-ag.com
ISIN:	DE000A0TGJ55
WKN:	A0TGJ5
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1940081

End of Announcement	EQS News Service