Volkswagen sells 17 per cent stake in its company to Qatar
By Andrew C., 30 Aug, 2010. 0 Comments
The investment arm of the Qatar government now owns a 17% stake in Volkswagen. This report follows the resignation of Porsche CEO Wendelin Wiedeking and VW‚ takeover of Porsche. The purchase makes the Middle Eastern state the third largest stakeholder in VW after Porsche and the German state of Lower Saxony. Under the deal, some of Porsche‚ voting options in VW will be transferred to Qatar and in return, Qatar will lend Porsche ‚Ǩ750 million.
[via autocar]
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