Volkswagen acquired Porsche
07 december 2009
Today, on the morning of December 7, the company Volkswagen announced its purchase of 49.9% of Porsche's shares. The cost of the package of documents was 4 billion euros.
Also, 10% of Porsche's shares were bought out by the Qatar Holding LLC fund from Qatar. It will also receive 17% of Volkswagen's shares.
In 2011, Volkswagen stated that it would complete the merger of the two companies by acquiring Porsche's European dealership network. Porsche will become the tenth car manufacturer brand within the Volkswagen group.
Volkswagen bought Porsche after Porsche incurred debt to banks during its attempted takeover of Volkswagen. Currently, Porsche owns 51 percent of Volkswagen.
Also, 10% of Porsche's shares were bought out by the Qatar Holding LLC fund from Qatar. It will also receive 17% of Volkswagen's shares.
In 2011, Volkswagen stated that it would complete the merger of the two companies by acquiring Porsche's European dealership network. Porsche will become the tenth car manufacturer brand within the Volkswagen group.
Volkswagen bought Porsche after Porsche incurred debt to banks during its attempted takeover of Volkswagen. Currently, Porsche owns 51 percent of Volkswagen.