Vw Group may complete the purchase of 50.1% of Porsche SE this year

Article by Christian Andrei, on January 23, 2012

Within this year, Volkswagen Group may complete the purchase of the 50.1% of Porsche Automobile Holding SE's automotive business that it doesn’t yet own for 3.9 billion euros, according to a report from German magazine Der Spiegel that cited VW managers who asked not to be named. VW will be able to pay over 1 billion euros in taxes if the purchase is complete before 2014 by establishing a holding company to take control of the stake temporarily.

The magazine said that furthermore, Volkswagen will be taking measures to guarantee that Porsche remains independent within the VW group to get over resistance from Porsche labor leaders.

VW already owns 49.9% of Porsche's automotive unit. Last Sunday, Christine Ritz, a VW spokeswoman, said that VW continues to be in the process of determining a plan to integrate with Porsche SE's automotive business.

Ritz said that all the parties want to achieve its target of an integrated automotive group “as soon as it makes economic sense to do so." He added that an announcement will be made immediately after a decision is made about this goal. Ritz didn’t comment on Der Spiegel’s report.

Topics: vw, porsche

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Each time that Mini launches a new generation of the Countryman crossover, a John Cooper Works performance version is always expected to follow. When Mini unveiled the next-gen 2017 Mini...
by - January 18, 2017
Ford Mustang customers won’t be able to specify the V6 powerplant for the latest iteration of the carmaker’s pony car. This comes as the new 2018 Ford Mustang is saying...
by - January 18, 2017
The man sitting at the top of the performance division of Mercedes-Benz – Tobias Moers – cryptically indicated that the Mercedes-AMG GT4 could be really coming. Moers, chief executive of...
by - January 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries