Porsche and Piech families buy Qatar’s 10% stake in Porsche SE

Article by Christian Andrei, on June 17, 2013

The Porsche and Piech families have acquired the 10-percent stake held by Qatar Holding in Porsche Automobil Holding SE, allowing them to regain full ownership of the holding company. In a statement, supervisory board chairman Wolfgang Porsche remarked that regaining full ownership of the company is an expression of their confidence in the “prosperous future” of Porsche SE as the largest shareholder of Volkswagen AG.

Porsche SE owns 50.7 percent of VW's common shares. Frank Biller, an analyst with Landesbank Baden-Wuerttemberg, told Bloomberg that Qatar Holding's stake is valued at around EUR930 million ($1.24 billion), assuming that Porsche SE's common shares carry the same price as the publicly traded preferred stock.

Porsche spokesman Albrecht Bamler said the parties are not disclosing the acquisition price. Qatar said it is still fully committed to Volkswagen and intends to keep its 17 percent stake in the carmaker. Ahmad Al-Sayed, Qatar Holdings chief executive officer, said in the statement that as a long-term strategic investor, they believe that Volkswagen “represents a unique investment."

Porsche is facing combined EUR5.4 billion in claims in Germany connected to its botched takeover of Volkswagen around four years ago. Investors who filed the suit claimed that Porsche failed to markets about its plan to take over Volkswagen. Porsche SE sold its Porsche automaking business to VW in 2012 after lawsuits thwarted a bid to fully merge the two companies. [source: automotive news - sub. required]

Topics: porsche, qatar

If you liked the article, share on:


Login or Create new account to add a comment!


Tesla is making sure that all models under production will receive the necessary advanced hardware that will allow them to be autonomously driven. The fitment of these advanced hardware to...
by - October 27, 2016
Wondering how fast the 2017 Chevrolet Camaro ZL1 in actual driving? To provide customers a good idea on how fast the 2017 Camaro ZL1 could really get, Chevrolet recently had...
by - October 27, 2016
So, it is official! The new Honda Clarity FCV has the longest verified range of any zero-emissions vehicle currently on the road in the United States. One of the main...
by - October 27, 2016
Many have been anticipating Mercedes-Benz Vans’ newest luxury pickup truck, the X-Class. While Mercedes-Benz has yet to reveal the official production version of the X-Class, it was kind enough to...
by - October 27, 2016
We’ve seen quite a lot of intriguing stories in the age of Internet (where the most interesting part was revealed before the story unfolds). Some are from movies and novels...
by - October 26, 2016