To raise money

Pierer Industrie examines sale of company shares

Pierer Industrie AG and Pierer Mobility AG are both based in Edisonstrasse in Wels.(Bild: Krone KREATIV/EPA, Markus Wenzel)

Just over a month after filing for European restructuring proceedings, Pierer Industrie AG presented its restructuring plan to the Wels Regional Court. In order to raise the necessary funds, the sale of further shares in Stefan Pierer's last major acquisition, Leoni AG, is even being examined.

After Pierer Industrie AG filed for European restructuring proceedings on November 25, it had to present its restructuring plan to the Wels Regional Court on Friday, December 27. What does it provide for? The full capital amounts of two bonds (total: 115 million euros) and two promissory note loans (total: 132.5 million euros) are to be repaid by December 31, 2026 and December 31, 2027 respectively. This means that the company has two years to put the funds in place.

Leoni not taken over until 2023
How will this be achieved? On the one hand, money is to flow through the shareholders - in this case Pierer Konzerngesellschaft mbH. On the other hand, the possibility of selling further shares in Leoni AG is also being examined. Stefan Pierer only took over the German wiring harness giant in 2023, even injecting 150 million euros to save the company, which was threatened with insolvency.

All other liabilities of Pierer Industrie AG are not affected by this restructuring process.

Die Pierer Industrie AG in einer Aussendung am 27. Dezember zum eingereichten Restrukturierungsplan

In September 2024, it was announced that Pierer had sold 50.1 percent of Leoni AG to Apple supplier Luxshare, for which 205.4 million euros alone were paid. Luxshare is also taking over a subsidiary of Leoni, which is expected to generate a further 320 million euros.

Sale or partial sale of shareholdings under discussion
As part of the restructuring plan, Pierer Industrie AG has also announced that further funds can be generated through the strategic networking of SHW AG (Germany) and Pankl Racing Systems AG, based in Styria. Both are subsidiaries of Pankl AG. A sale or partial sale of shareholdings is also under discussion.

KTM AG wants to sell its majority stake in MV Agusta
In the course of the insolvency at KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH, things are also being tidied up. The majority stake in the Italian luxury motorcycle brand MV Agusta is being offered for sale, as are shares in Pierer Immoreal GmbH.

Proceedings serve to avoid insolvency
Pierer Industrie AG, which owns Pierer Mobility AG (which in turn owns KTM AG) and Pankl AG, filed for restructuring proceedings in order to avoid insolvency. The later redemption date of the promissory note loans and bonds should make this possible, but interest will be paid as agreed, it is said. The bond creditors are represented by Gregor Royer. The bond and promissory bill creditors have until January 31 to register their claims.