EQS-Adhoc: BayWa AG: Notice of a restructuring project in accordance with StaRUG for the legally compliant implementation of the financing concept

BayWa AG: Notice of a restructuring project in accordance with StaRUG for the legally compliant implementation of the financing concept

Munich, 31 January 2025 – BayWa AG today resolved to notify the competent Munich Local Court – Restructuring Court – of a restructuring project in accordance with the Act on the Stabilisation and Restructuring Framework for Businesses ("StaRUG"). The company plans to submit a restructuring plan to the restructuring court at short notice, apply for an exploration and consultation meeting and, if necessary, make use of further procedural assistance offered by the StaRUG. Suppliers, customers, employees and subsidiaries of BayWa AG are not affected by the project.

BayWa AG has agreed on a detailed financing concept and the content of a long-term reorganisation agreement until 2027, along with additional agreements, with its main financing partners.

The financing concept and the content of the long-term reorganisation agreement are supported by almost all financial creditors. A few financial creditors have not yet given their consent, meaning that the company no longer expects to be able to persuade these individual creditors to give their consent voluntarily. The StaRUG proceedings make it possible to implement the financing concept and the content of the long-term reorganisation agreement even without the consent of these individual creditors and to include them in an overall solution with all financial creditors. In addition, the StaRUG proceedings strengthen the company's going concern forecast.

The agreement reached with almost all financing partners and the company's major shareholders secures the necessary majorities in the StaRUG proceedings so that the financing concept and the reorganisation agreement can be implemented effectively and swiftly. The legally binding conclusion and entry into force of the restructuring agreement as well as the conclusion and entry into force of further financing agreements for the reorganisation of financing until the end of 2027 will take place after the successful conclusion of the StaRUG proceedings and are still expected by the end of April 2025 at the latest.

Funding for the StaRUG proceedings has been secured.

The cash capital increase with subscription rights for shareholders with a volume of around €150 million planned as part of the financing concept is to be adopted as part of the StaRUG proceedings to simplify and accelerate the process. A capital reduction and other measures under company law are not planned. The planned StaRUG proceedings will not interfere with the BayWa Group's operating business.

Only BayWa AG will notify of the initiation of StaRUG proceedings; its subsidiaries or other Group companies will not.

The publication of the annual and consolidated financial statements for the 2024 financial year (previously scheduled for 27 March 2025) is expected to be delayed due to the implementation of StaRUG proceedings. The new publication date for the annual and consolidated financial statements will be announced in due time. Depending on the new publication date, it may also be necessary to postpone the company's Annual General Meeting (previously scheduled for 27 May 2025).