BayWa says it is possible to reach agreement on documentation of restructuring by end of 2027 (updated)

Baywa AG

30/11/2024 24:33

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       Nov 30 (Reuters) - BayWa  BYWGnx.DE  concluded the
second draft restructuring report that was commissioned by the
company, and the German agricultural group said on Saturday it
would be possible to reach a final commercial agreement on the
contractual documentation of the restructuring solution by the
end of 2027.
     The company said several cost-cutting measures had been
included in the draft, as well as the sale of key international
affiliated companies. 
        BayWa also said the equity ratio will have improved
after the transformation phase, and the company will generate
normal market earnings.
  
    The Munich-based trader of farming supplies and produce said
the final restructuring report is planned by the beginning of
the second quarter of 2025 at the latest.
        BayWa has been grappling with rising borrowing costs.
The company 
    concluded
     the first draft of its restructuring plan in September. 
  
        The 
    departure
     of the CEO and CFO of the group was also announced in
October.
  

 (Reporting by Chandni Shah in Bengaluru; Editing by Chris
Reese)
 ((Chandni.shah@thomsonreuters.com;))