The companies have signed a non-binding term sheet and are working on finalizing the details, Varta said, without disclosing any financial factors. The deal, which is contingent on a successful due diligence review and shareholder approval, would see Varta's V4Drive business transferred to a subsidiary, with Porsche participating through a capital increase. The potential investment comes after Varta cut its full-year revenue forecast for 2024 last month due to the declining demand in the energy storage market.
Rishi Sunak’s party is set to be routed across the UK, according to the exit poll, the final test of public opinion before results are announced.
The commission said it will be conducting research of the public in the coming weeks, including those that applied to vote by post.