BayWa Sells Stake in UNSER LAGERHAUS for €20M to Reduce Debt
BayWa is selling its stake in Austrian trading company UNSER LAGERHAUS Warenhandelsgesellschaft m.b.H. (WHG) for around €20 million. The sale is part of BayWa's restructuring efforts and will help reduce its debt.
The majority of WHG will be taken over by Raiffeisen Landesbank Kärnten and 16 Kärntner Lagerhäuser. Raiffeisen Landesbank Kärnten will hold 60.3%, while the 16 Kärntner Lagerhäuser will hold 36.7%. The remaining shares, about 3%, will be held by Tirol Raiffeisen sector owners. This makes the company majority-owned by Kärntner Raiffeisen cooperatives.
The sale will reduce BayWa's bank liabilities and release credit lines of up to €100 million. WHG, with 66 locations and around 1,130 employees, is one of the largest regional trading companies in the Alpine-Adriatic region. The transaction is subject to approval by competition and investment control authorities and is expected to be completed by the end of the year.
BayWa's sale of its stake in WHG for around €20 million is a strategic move towards debt reduction. The new majority owners, Raiffeisen Landesbank Kärnten and 16 Kärntner Lagerhäuser, aim to continue WHG's operations in the Alpine-Adriatic region.
