DLA Piper advises VARTA AG on capital increase
DLA Piper advised VARTA AG on its capital increase announced on Monday, which has been successfully completed yesterday. The issue of 2.22 million new shares generated gross proceeds of approximately EUR 51 million.
With the capital increase, VARTA AG is taking an important step towards implementing its announced restructuring program. Among other things, the company intends to use the proceeds to expand its growing energy storage business. VARTA also intends to secure growth in large-format lithium-ion cells.
With nearly 4,800 employees globally, VARTA AG produces and distributes a comprehensive battery portfolio ranging from micro batteries, household batteries and energy storage systems to customer-specific battery solutions.
The DLA Piper team was led by partner Dr Roland Maaß (Capital Markets, Frankfurt) and partner Florian Bruder (Restructuring, Frankfurt and Munich) and included senior associates Juliane Poss (Capital Markets, Frankfurt) and Hubertus Neu (Corporate, Cologne) as well as associate Theresa Schenk (Capital Markets, Frankfurt).
Inhouse at VARTA AG, Julia Weber, the head of the legal department, was in charge of the capital increase.