Auto Union name to return with the merging of Porsche and Vw
By Andrew C., 26 Aug, 2010. 0 Comments
Porsche Logo
The Auto Union name is seen to return with the merging of Porsche and Volkswagen once again. Two supervisory board members expressed confidence that the deal would be completed shortly and that eventually, the Auto Union name would be adopted. Volkswagen CEO Martin Winterkorn had provided assurances that Porsche will still be an independent brand. The board member also confirmed that questions over valuation had already been resolved. The merger is expected to be finalized at VW's board meeting today with the ratification of VW's purchase of a 49% stake in Porsche. The board member added that the amount of the deal will be decided after due diligence. This is an ironic turn of events as Porsche had originally sought to take over VW; however, its attempts to do so led it to incur more than 10 billion euros of debt.
Latest Auto Shows
