Cars
The never-ending Porsche-Volkswagen story has got a new twist in it as according to a report from Reuters, Porsche asked the European Commission for permission to take over Volkswagen. The E.U. has a time frame of one month (until July 2) to consider whether the deal should win competition approval or requires further investigation.
- Volkswagen Acquires 49.9% Stake In Porsche For €3.9 Billion
In a story that started out with Porsche trying to take over Volkswagen only to end up the other way around, VW made a significant step towards its plan to integrate the German sports car brand by announcing today that it acquired a 49.9% stake in Porsche...
- Volkswagen And Porsche Close Merger Deal
Europe's largest automaker, Volkswagen, and Porsche announced today that they reached an agreement to merge their operations to create an integrated automotive group led by VW. Under the agreement, Volkswagen will buy a 42 percent stake in Porsche's...
- Porsche Denies Reports About Increasing Vw Stake To 75 Percent
Porsche has denied a weekend report in Germany's second biggest news magazine, Focus which claimed that the sportscar maker plans to raise its Volkswagen stake to 75 percent in order to approve a domination agreement at a shareholder meeting. Last...
- Kuwait Group Announces That It Has Received Offers To Sell Its Stake In Aston Martin!
And get a load of this; Investment Dar said the offers are worth $720 million, about 50% more than what they Kuwait based company paid to get the stocks two months ago! In case you missed the Aston Martin episode, we remind you that Kuwait’s Investment...
- Porsche Of America Sales Analysis For July 2009
Porsche sales tanked in July. In fact, year-over-year, Porsche sales have been routinely tanking. We read just how bad it was each month at the beginning of the next month; every month. The first graph below looks at the last four months of reporting...
Cars
Breaking News: Porsche Asks European Commision’s Permission To Take Over VW!
The never-ending Porsche-Volkswagen story has got a new twist in it as according to a report from Reuters, Porsche asked the European Commission for permission to take over Volkswagen. The E.U. has a time frame of one month (until July 2) to consider whether the deal should win competition approval or requires further investigation.
Porsche has unsuccessfully tried several times this year to take over VW. Just two days ago (May 29), VW’s second-largest investor, the German state of Lower Saxony bought 376,000 shares worth €41 million euros ($55 million) to protect its holding as employees exercise options. Why? Because VW is protected from a hostile takeover by a 47-year-old German law that allows anyone with a 20 percent holding the right to block major decisions. As we’re speaking, Porsche's total stake in VW accounts to 30.92 percent of the voting rights. We’ll get back to this developing story later on the day. Via: Reuters
Technorati: Porsche, VW, Stocks, Carscoop, cars, autos, vehicles
- Volkswagen Acquires 49.9% Stake In Porsche For €3.9 Billion
In a story that started out with Porsche trying to take over Volkswagen only to end up the other way around, VW made a significant step towards its plan to integrate the German sports car brand by announcing today that it acquired a 49.9% stake in Porsche...
- Volkswagen And Porsche Close Merger Deal
Europe's largest automaker, Volkswagen, and Porsche announced today that they reached an agreement to merge their operations to create an integrated automotive group led by VW. Under the agreement, Volkswagen will buy a 42 percent stake in Porsche's...
- Porsche Denies Reports About Increasing Vw Stake To 75 Percent
Porsche has denied a weekend report in Germany's second biggest news magazine, Focus which claimed that the sportscar maker plans to raise its Volkswagen stake to 75 percent in order to approve a domination agreement at a shareholder meeting. Last...
- Kuwait Group Announces That It Has Received Offers To Sell Its Stake In Aston Martin!
And get a load of this; Investment Dar said the offers are worth $720 million, about 50% more than what they Kuwait based company paid to get the stocks two months ago! In case you missed the Aston Martin episode, we remind you that Kuwait’s Investment...
- Porsche Of America Sales Analysis For July 2009
Porsche sales tanked in July. In fact, year-over-year, Porsche sales have been routinely tanking. We read just how bad it was each month at the beginning of the next month; every month. The first graph below looks at the last four months of reporting...