Leoni AG Financial Restructuring Strengthens Capital Base
Leoni AGย reached an agreement with its lenders, bondholders, and a strategic investor on a comprehensive financial restructuring plan. The deal aims to stabilize the companyโs finances, secure fresh liquidity, and support long-term growth. Under the plan, Leoni will receive a โฌ150 million liquidity injection and see โฌ708 million in debt removed from its balance sheet.
As part of the agreement, Leoni will delist from the stock exchange and no longer operate as a publicly traded company. A new company established by Austrian investorย Stefan Piererย will become Leoniโs sole shareholder. Leoni notes that the restructuring does not affect its subsidiaries, suppliers, customers, or employees, and that operations will continue as normal while the company strengthens its financial footing.
Role of Strategic Investor Stefan Pierer
Pierer, a billionaire entrepreneur, serves as CEO ofย Pierer Mobility, a leading Austria-based motorcycle manufacturer. He founded the Cross holding groupโnowย Pierer Industrieโin 1987 and still holds a majority stake. He also sits on the supervisory board ofย SHW AG, an automotive parts company, adding further industrial and automotive expertise to Leoniโs new ownership structure.
Leadership Transition at Leoni AG
Leoni Supervisory Board Chairmanย Klaus Rinnerbergerย will step into the role of chief executive officer once merger control authorities grant clearance. He succeeds former CEO Aldo Kamper, whose contract ended on March 31. Rinnerberger brings decades of automotive and restructuring experience, including leadership roles at Magna Group (CFO, CRO, CEO) and successful restructurings of Polytec AG and Peguform (now SMP).
Rinnerberger has served on the Executive Board ofย Pierer Industrie AGย since 2010 and joined Leoniโs Supervisory Board in May 2021, becoming its chairman in May 2022. He said he looks forward to driving the โadvanced restructuringโ forward, with the shared goal of building a sustainably stable Leoni.
Next Steps and Approvals
Leoni reports that its key stakeholders now support the restructuring concept and capital measures. However, the company still needs merger control clearance and other customary regulatory approvals before fully implementing the plan. Once complete, the restructuring will substantially reduce Leoniโs debt, provide fresh liquidity, and secure financing for the coming years, giving the company a stronger platform for its future in the automotive and cable markets.
