Switzerland's EIP still eyeing majority of BayWa renewable unit-letter

Baywa AG

18/03/2025 07:42

ZURICH, March 18 (Reuters) - Energy Infrastructure Partners remains interested in acquiring majority ownership of the renewable energy unit of German agricultural trading group BayWa BYWGnx.DE, the Swiss firm said in a letter to investors.

BayWa said on Monday it would for the time being retain majority ownership of the renewable energy unit known as BayWa r.e. after an initial agreement with EIP came undone.

The Munich-based trader of farming supplies and produce has been grappling with rising borrowing costs, forcing it to embark on a major restructuring drive, including job cuts.

In the letter, seen by Reuters, EIP said its plans to raise its stake in BayWa r.e. to a majority holding were paused but not off the table and that it would continue promoting the company's restructuring plans with its current holding.

 (Reporting by Dave Graham, editing by John Revill)

 ((dave.graham@thomsonreuters.com; Reuters Messaging: dave.graham.thomsonreuters.com@reuters.net))