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  • Volkswagen to complete takeover of Porsche soon by buying remaining stock for 3.9 million Euros

    Porsche and VW have been vying for control of one another for years now but it seems the battle is finally coming to an end. AutoNews Europe reports the takeover may finally be over this year. Volksagen already owns 49.9% of Porsche automotive and intends to buy up the rest of the shares and create a holding company in charge of Porsche to make for a smooth transition/acquisition. Why is VW making this move even with Porsche being sued by investors? The taxes from VW buying up so much stock would amount to over 1 billion Euros if they did not complete the deal before 2014.

    This essentially boils down to VW thinking they may have to pay a billion Euros anyway so if they can save a billion they can try to settle the case between the investors and Porsche for around that same billion or possibly even win it. With Porsche joining the VW ranks sooner or later if they have to spend money it is essentially money coming from VW's asset. So it would seem VW decided to save a billion and acquire Porsche knowing the litigation is taking place.

    This article was originally published in forum thread: Volkswagen to complete takeover of Porsche soon by buying remaining stock for 3.9 million Euros started by Sticky View original post
    Comments 1 Comment
    1. fastgti69's Avatar
      fastgti69 -
      I love VW. People that go to honda and toyota over VW are just insane. Look at what they own!