German Court Rejects Shareholders' Appeal Against Varta Restructuring Plan

The Federal Constitutional Court ruled that the complaint by Varta shareholders over the capital reduction plan was inadmissible, leaving investors facing total losses.

• The Federal Constitutional Court of Germany dismissed a constitutional complaint by Varta shareholders challenging the company's restructuring plan.
• The restructuring plan includes a capital reduction to zero, effectively wiping out the value of all existing shares, followed by a capital increase.
• Varta's financial struggles stem from nearly half a billion euros in debt, with the restructuring aiming to reduce this to 230 million euros.
• Porsche has acquired a 70% stake in Varta's battery subsidiary V4Drive, now renamed V4Smart, as part of the company's recovery efforts.
• A second constitutional complaint related to Varta's restructuring remains pending before the court, with no decision yet announced.

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