Battery-maker Varta has reached agreement with creditors on a restructuring concept. This concept will “significantly reduce the company’s debt and provide it with fresh liquidity,” Varta announced from its headquarters in the south-western town of Ellwangen on Saturday. It envisages the involvement of a company controlled by Varta majority shareholder Michael Tojner, MT InvestCo, and a Porsche investment company as new shareholder. The reorganization concept is expected to secure the financing of Varta AG until the end of 2027. According to the information provided, Varta’s debt burden is to …