The Volkswagen supervisory board is due to discuss completing the buy-out of Porsche AG on the 14 February, according to reports from Germany.
VW already owns 49.9 percent of the carmaker and, according to the reports, it is preparing to purchase the other 50.1 percent. German magazine Der Spiegel says VW will pay £3.2bn ‘plus taxes’ for the stake, the same price it paid in December 2009.
VW first stepped in when Porsche’s parent company was close to collapse in the wake of the credit crunch and Porsche’s attempt to takeover VW itself.
Under the ambitious leadership of Wendelin Wiedeking, Porsche had tried a reverse takeover of VW, building up a 50 percent stake in the giant carmaker before the slump took hold, leaving Porsche AG with massive debts.
Join the debate
Add your comment
Re: VW poised for Porsche buy-out
I can not agree more on this with you.
Time will tell, but I do feel that this scenario will not be a horror one.
Because of that I had a dream in which, as an utter punishment ,I was his teacher in English language!
Re: VW poised for Porsche buy-out
Wishful thinking? This is VAG we're talking about here.
Re: VW poised for Porsche buy-out
I agree with this.
In this segment VW will not interfere and spoil Porsche's spirit.
That is not the same like in the A,B or C segment cars if, theoretically (God forbidden!),VW lay his hands on Alfa Romeo.