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German agribusiness company BayWa agrees to offload cereal trading subsidiary Cefetra for a potential sum of up to €186 million.

Munich-based agricultural conglomerate BayWa proceeds with the sale of another significant foreign asset.

Struggling BayWa, a Munich-based agro-conglomerate, plans to offload its significant stake in a...
Struggling BayWa, a Munich-based agro-conglomerate, plans to offload its significant stake in a foreign company, marking its second significant abandonment of a foreign asset.

BayWa Offloads Another Oversee Asset: Cefetra

German agribusiness company BayWa agrees to offload cereal trading subsidiary Cefetra for a potential sum of up to €186 million.

In a bid to streamline its operations and reduce a hefty debt burden, struggling Munich-based agricultural conglomerate BayWa has sold its stake in Dutch grain trader Cefetra to Rotterdam-based businessman Peter Goedvolk and his company First Dutch.

Tired of grappling with its debts, BayWa had originally purchased Cefetra for €125 million back in 2012 with hopes of expanding its traditional agrarian trading business on a global scale. However, crossing synergy lines proved tricky, leading to the decision to offload the Dutch business. According to CEO Frank Hiller, "The sale is a sensible step towards focusing on the core business segments of BayWa."

BayWa's search for debt relief has been ongoing for some time. The company has accumulated several international assets during the past 15 years and is now eager to trim its debt mountain from over €5 billion down to approximately €1 billion by selling unwanted assets[6]. Other companies on the sale list include New Zealand fruit trader T&G Global (Turners & Growers) and BayWa r.e., its renewable energy subsidiary.

The sale of Cefetra is expected to boost BayWa's liquidity by reducing its bank liabilities by roughly €500 million. First Dutch, a group operating in the energy, health, and technology sectors, with revenues of €4 billion and 3000 employees, expressed their anticipation for the collaboration[7].

Plunging into an existential liquidity crisis last summer due to skyrocketing interest rates and the poor performance of BayWa r.e., the conglomerate is now working diligently to free itself from this precarious situation with the support of its two major cooperative sector shareholders[8]. BayWa is also planning a capital increase of up to €200 million to further bolster its financial standing.

BayWa

Restructuring efforts apparently initiated under the "StaRUG Light" framework in the beginning of 2025 are progressing as expected. Previously, shareholders and creditors had cast their vote in favor of BayWa's restructuring plan, which includes an extension of liabilities until the end of 2028 as well as a capital increase of up to €201.6 million[6]. A court recently approved the restructuring plan, enabling BayWa to press on with its debt management strategy. The goal is to reduce BayWa’s debt by €4 billion by 2028 through the sale of assets and operational efficiencies[8].

Xetra ·

Sources:[1] - "GERMANY - BayWa AG initiates restructuring measures." Reuters, [accessed November 25th, 2025].[2] - "BayWa AG accelerates strategic reorientation with further measures to increase efficiency." BayWa AG, [accessed November 25th, 2025].[3] - "German court approves restructuring plan for BayWa AG." Reuters, [accessed November 25th, 2025].[4] - "BayWa AG sells Dutch unit Cefetra in first stage of debt reduction." Reuters, [accessed November 25th, 2025].[5] - "PGFO B.V. to acquire Cefetra from BayWa AG." PGFO B.V., [accessed November 25th, 2025].[6] - "BayWa AG announces strategic sale of international assets." BayWa AG, [accessed November 25th, 2025].[7] - "First Dutch builds global supply chain power with raw materials." First Dutch, [accessed November 25th, 2025].[8] - "BayWa AG aims to reduce debt from €5 billion to €1 billion by 2028." Reuters, [accessed November 25th, 2025].

In an attempt to decrease its debt load and intensify its focus on core segments, BayWa has decided to sell its stake in Cefetra, a Dutch grain trader, to First Dutch for revenue enhancement and reduced bank liabilities. With the sale, BayWa is working towards fulfilling its goal of reducing its debt from over €5 billion to approximately €1 billion by selling unwanted assets, such as Cefetra, T&G Global (Turners & Growers), and BayWa r.e., its renewable energy subsidiary.

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