BayWa AG has agreed to allow EIP to strengthen its position in German developer BayWa re. EIP plans to invest €150 million to become the majority shareholder of BayWa re with a 65% stake, while BayWa AG will retain 35%. The deal is still subject to antitrust approval.
EIP acquired a 49% stake in BayWa re at the end of 2020. However, BayWa re's Munich-based parent company faced significant financial challenges in 2024. A restructuring plan, commissioned by Boston Consulting, aims to focus BayWa re on renewable energy projects and build an independent power producer portfolio, with facilities remaining under the company's ownership after construction.
BayWa re will target sectors with favorable market prospects and competitive strengths. Its “r.e.power” transformation program has been launched to achieve these goals. The company has extended the timeline for restructuring and transformation to the end of 2028, up from the initial target of 2027.
“With EIP as the majority shareholder, we have a financially strong partner at our side with a long-term objective, who knows BayWa re very well and has in-depth expertise in the energy market,” said Matthias Taft, CEO of BayWa re. “With the strengthened capital base and the support of EIP, we can reliably and consistently implement the initiated transformation.”
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