Jump to content
Sign in to follow this  

AutoBlog: Volkswagen board approves merger with Porsche

Recommended Posts

Filed under: Porsche, Volkswagen, Earnings/Financials

porsche-vw-emblems-getty-250-main.jpgHunting for big game can be a tricky business. The saga of Volkswagen and Porsche appears as though it may soon draw to a close with the hunter being swallowed by its prey. At a special meeting of the Volkswagen supervisory board on Thursday, an agreement was approved that will ultimately lead to assimilation for Porsche.

Currently, Porsche SE holds a bit over 50 percent of Volkswagen's common shares along with options for another 20 percent. Porsche will start off by negotiating to sell those options to the Emirate of Qatar for an undisclosed sum. Once that deal is done, Volkswagen will buy 42 percent of Porsche AG (the car making business) before the end of this year. Volkswagen will pay €3.3 billion for that stake.

VW will pay another €3.55 billion for Porsche Holding Salzburg, a trading company owned by the Porsche and Piech families. Ultimately, by the end of 2011 as Porsche SE reduces its debt load with all of this new cash, Volkswagen and Porsche will merge into a single company.

That is if all goes according to plan. What could possibly go wrong? Press release from VW after the jump.

[source: Volkswagen]

Continue reading Volkswagen board approves merger with Porsche

Volkswagen board approves merger with Porsche originally appeared on Autoblog on Fri, 14 Aug 2009 10:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments


autoblog?i=qBNKo4XN4XQ:LhtRl7q9Kzo:wF9xT autoblog?i=qBNKo4XN4XQ:LhtRl7q9Kzo:V_sGL

View the full article

Share this post

Link to post
Share on other sites

Your content will need to be approved by a moderator

You are commenting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets



Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.