A lack of official approvals from the Arab region is delaying the entry of the consortium around Stefan Pierer, Mark Mateschitz and Raiffeisen Upper Austria to Rosenbauer. The fire service supplier has now made an important decision: Ma has agreed a loan of 330 million euros with the major banks.
The entry of the consortium around Stefan Pierer, Mark Mateschitz and Raiffeisen Oberösterreich must take place at the end of February 2025 in order to keep the word of the main banks and also receive fresh money. 119 million euros will flow to Rosenbauer International through the acquisition of a new block of shares – money needed to increase equity.
No dividend for 2024 and 2025
In addition, liquidity is also needed to continue current activities. And that has now been secured. Agreement was reached with the main lenders, as the Leondingers call it, on a refinancing of 330 million euros. A condition for obtaining the loan with a term until December 2027 was the concession to suspend dividend payments in the 2024 and 2025 financial years.
With a turnover of 1.064 billion euros and approximately 4,300 employees, Rosenbauer is the largest fire service supplier in the world. With a sales and service network, the company from Upper Austria is represented in approximately 120 countries around the world.
Orders for more than two billion euros secured
After difficult years in which they first had to make cuts and are now intensively busy processing orders faster, Rosenbauer has recovered. The order book for the first half of 2024 amounted to more than two billion euros.
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.
