Car manufacturers and the iPhone generation

628 More

Earning the right to be successful

610 More

Knowledge is power

714 More

Selling cars – it’s all about timing

1,006 More

Truemag

  • Home
  • About
  • Advertise
  • Archives
  • Contact
  • Subscribe

VW to buy Porsche AG for 8 billion euros

Porsche’s controlling families will agree on Thursday to accept an offer by Volkswagen to buy its sports car business Porsche AG for roughly 8 billion euros ($11.28 billion), Der Spiegel reported on Saturday.

Germany’s leading weekly magazine wrote that the rival Porsche and Piech clans, which own 100 percent of
Porsche SE votes, will approve the two-stage takeover at a supervisory board meeting on July 23.
Volkswagen would purchase a 49.9 percent stake in Porsche AG and at a later date acquire the rest, in a deal that would create an integrated automotive group with 10 brands under the leadership of the Wolfsburg-based carmaker.

The sale would help Porsche SE pay off most of its debt, which two sources told Reuters has ballooned to considerably more than 10 billion euros.

Source: Automotive News

Jul 19, 2009MTI
  • Volkswagen buys Porsche sales unit
  • Porsche riding high on Cayenne and Panemera sales
  • Porsche VW merger may be delayed by law suits and tax debacle
  • Details emerge of VW Porsche deal
  • Porsche and VW on the verge of merging
  • Porsche turn down VW “rescue” deal
  • US scrappage scheme gathers paceStandoff between GM and German government over Opel
    MTI
    13 years ago Manufacturers, Newsvw buys porsche, vw to buy porsche28
    Most viewed
    Top 100 UK Dealer Groups
    39,745 views
    The car sales process and the “9 point plan”
    11,807 views
    webuyanycar review – They will buy any car but beware of the asterisk
    6,189 views
    Most commented
    Car sales and the power of silence…
    25 Comments
    Car dealers still not prepared to play the “we buy any car” game
    23 Comments
    A Traders Tale – Part Four
    22 Comments
    Win a pre-loaded Ipod Shuffle!
    19 Comments
    Bargain of the Week – StreetKa 1.6i Luxury
    14 Comments

    Auto Transport

    About MTI

    Motor Trade Insider
    is written by people working actively in the motor trade for people on the inside and people on the outside.

    Our aims
    Build a bridge between consumers and the trade, create Interesting and informative content, break down barriers and create better understanding, expose bad practices and rip-offs and promote outstanding products and service.
    Have something to say?
    We are always looking for experienced writers who can write good original quality posts on motor-trade-insider.com. Please contact us if you would like us to consider you. Make sure you give us details of your own blog or a link to some articles you have written.
    2017 © Motor Trade Insider
    Truemag theme by StrictThemes