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

Article by Christian A., 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.

If you liked the article, share on:

Topics: vw, porsche

Comments

Recommended

November 17 is considered a very special day for Tesla, as this is the day that they revealed the highly anticipated Tesla Semi. But Elon Musk did not think the...
by - November 17, 2017
More details have emerged about the new sixth generation of the BMW M3 just as the German premium practically announced the end of the current-gen 3 Series with the unveiling...
by - November 17, 2017
All is set for Volkswagen’s plans to enter the electric vehicle game, as prompted by the so-called Dieselgate scandal. In fact, the German carmaker has already made a commitment to...
by - November 17, 2017
As BMW has already revealed, the next generation of the BMW M5 (F90) is a four-wheel drive high-performance sedan with overwhelming power output and torque at its disposal. However, it...
by - November 17, 2017
McLaren unveiled a one-off Gold - on - Black 720S at the 2017 Dubai Motor Show which will be on display throughout the entire stretch of this week’s event. The...
by - November 16, 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