Rosenbauer entry

Deadline for Pierer and Mateschitz has been extended

KTM founder Stefan Pierer, Red Bull heir Mark Mateschitz and Raiffeisen Upper Austria are to step in.(Bild: Krone KREATIV/Rosenbauer International, IV OÖ/Pelzl, APA-PictureDesk, Horst Einöder)

The capital increase of fire-fighting equipment manufacturer Rosenbauer, which was conditional for this calendar year in the summer, has been given an extension. A consortium comprising KTM founder Stefan Pierer, Red Bull heir Mark Mateschitz and Raiffeisen Oberösterreich is to participate.

Pierer's company complex has recently suffered billions in bankruptcies, and creditor representatives say that he must contribute to the restructuring. The deadline is now February 28, 2025. 

Rosenbauer is suspending balance sheet requirements and conditions for the capital increase for the 2024 balance sheet, according to a company statement on Friday evening. Rosenbauer CEO Sebastian Wolf had recently reassured: The "transaction is under wraps". A Pierer spokesperson also said that everything was on track. Due to a low equity ratio of 14 percent, the capital increase is significant for Rosenbauer.

"Comprehensive refinancing"
According to the company, the capital increase provides for "comprehensive refinancing by November 3, 2025". Rosenbauer had only recently announced that the condition for implementation was to be extended this year. The agreement with key lenders and promissory note loan creditors has now been reached, it was reported on Friday evening.

The Robau consortium, in which the buyers are united, ultimately wants to hold 50.1 percent of the Rosenbauer shares. Specifically, Robau is to buy a 25.15 percent stake from Rosenbauer Beteiligungsverwaltung GmbH (BVG), which currently still holds 51 percent of Rosenbauer. In June, Robau also undertook to buy 3.4 million new shares for 35 euros each as part of a capital increase.

New appointments to the Supervisory Board
As announced in August, the consortium intends to appoint new members to the Supervisory Board if the transactions are successfully completed. Subject to election by the Annual General Meeting, Pierer, Mateschitz, Friedrich Roithner and Gernot Hofer are to join the board. Stefan Wagner is to remain on the Supervisory Board. Following the KTM bankruptcies - the companies are to be restructured - Pierer is no longer actively exercising the function of President of the Federation of Austrian Industries Upper Austria, for example, with deputies taking over during the remaining term of office.