VW to buy 49.9% of Porsche

VW to buy 49.9% of Porsche

Porsche VW logo

The days of Porsche being an independent automaker will soon be officially over. Volkswagen has announced that it is ready to move ahead with the first stage of its buyout of the smaller company that had tried to do the same thing to VW just a short while back. In August the VW board approved the merger and the company announced that it would start off by purchasing 42 percent of Porsche AG, the car building unit of Porsche. That stake has now been increased to 49.9 percent.

The timetable for the creation of the integrated group remains unchangedwith Volkswagen achieving a participation in the operating business of Porsche by the end of 2009. The full merger of the companies is still scheduled to take place during the course of 2011.

Based on the enterprise value calculated for Porsche, Volkswagen is expected to pay approximately €3.9 billion for the participation in the company.

For worried Porsche fans, Volkswagen has already made a statement that it remains committed to the phased integration of the two companies and to preserving the independence and the interests of Porsche.

Porsche VW logo

The days of Porsche being an independent automaker will soon be officially over. Volkswagen has announced that it is ready to move ahead with the first stage of its buyout of the smaller company that had tried to do the same thing to VW just a short while back. In August the VW board approved the merger and the company announced that it would start off by purchasing 42 percent of Porsche AG, the car building unit of Porsche. That stake has now been increased to 49.9 percent.

The timetable for the creation of the integrated group remains unchangedwith Volkswagen achieving a participation in the operating business of Porsche by the end of 2009. The full merger of the companies is still scheduled to take place during the course of 2011.

Based on the enterprise value calculated for Porsche, Volkswagen is expected to pay approximately €3.9 billion for the participation in the company.

For worried Porsche fans, Volkswagen has already made a statement that it remains committed to the phased integration of the two companies and to preserving the independence and the interests of Porsche.

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