Varta completes restructuring, new owner is Porsche and Austrian entrepreneur

After months of hard work, the restructuring of battery manufacturer Varta has been completed. The new owners are the former majority shareholder, Austrian entrepreneur Michael Tojner and sports car manufacturer Porsche AG, who each paid 30 million euros and now own 50% of Varta AG. Although the restructuring has brought some positive changes, Varta still needs to save more than 25 million euros per year.