(Reuters) - BayWa 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
BayWa Targets 2027 for Restructuring Agreement Completion
(Reuters) - BayWa 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)
