The capital increase of the Upper Austrian fire brigade supplier Rosenbauer, which was planned in the summer for this calendar year, has been extended. A consortium including KTM founder Stefan Pierer, Red Bull heir Mark Mateschitz and Raiffeisen Upper Austria are expected to be involved. Pierer’s business complex recently suffered bankruptcies worth billions, and creditor representatives say he should contribute to the restructuring. The deadline now runs until February 28, 2025.
Rosenbauer is suspending the accounting requirements and conditions of the capital increase for the 2024 balance sheet, according to a company announcement on Friday evening. Rosenbauer boss Sebastian Wolf recently reassured the “OÖN”: “The transaction has been completed.” A spokesperson for Pierer also said that everything went well. Due to a low equity ratio of 14 percent, the capital increase for Rosenbauer is significant.
Extensive refinancing
According to the company, the capital increase provides for “comprehensive refinancing by November 3, 2025.” Rosenbauer recently announced that the condition for implementation should be extended this year. An agreement has now been reached with major lenders and promissory note creditors, namely Pierer, Mateschitz and Raiffeisen Oberösterreich, it was said on Friday evening.
The consortium will ultimately hold a majority stake in Rosenbauer
The Robau consortium, which brings together the buyers, ultimately wants to acquire 50.1 percent of Rosenbauer’s shares. The plans were made public at the beginning of August. In concrete terms, Robau will buy a 25.15 percent stake in Rosenbauer Beteiligungsverwaltung GmbH (BVG), which currently owns 51 percent of Rosenbauer. In June, Robau also pledged to buy 3.4 million new shares for 35 euros each as part of a capital increase.
As announced in August, the consortium wants to appoint new members to the supervisory board if the transactions are successfully completed. Subject to election by the general meeting, Pierer, Mateschitz, Friedrich Roithner and Gernot Hofer will join the committee. Stefan Wagner must remain on the supervisory board. After the bankruptcies of KTM – the companies have to be restructured – Pierer no longer actively exercises the role of chairman of the Upper Austrian Industrial Association (IV), but during the remaining term of office, deputies take over.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
