BayWa rallies after it reaches restructuring deal

Baywa AG

30/12/2024 08:27

** Shares in Germany's BayWa  BYWGnx.DE  jump 20% after the
trader of farming supplies and produce said it had reached a
restructuring agreement, set to last until 2027, with its major
shareholders and financiers
    ** Under the agreement, a capital increase with a volume of
around 150 million euros ($156 million) will be implemented in
the first quarter of 2025
    ** If gains hold, the stock will see its best day since July
    ** Still, shares are down 65% year-to-date as the company
has grappled with rising borrowing costs, forcing it to embark
on a major restructuring
    
  


($1 = 0.9591 euros)

 (Reporting by Bartosz Dabrowski)
 ((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))