Porsche agrees to provide capital for Varta restructuring
FrankfurtGerman battery maker Varta said on Saturday it had reached a restructuring agreement with its creditors, bringing in sports car maker Porsche to save its ailing business. The deal, reached after days of intense negotiations, will reduce Varta’s debt from 485 million euros ($534.86 million) to 200 million euros initially, the company said. Varta, which … Read more