"The acquisition of the trading business of Porsche Holding Salzburg is planned for 2011. The creation of the integrated automotive group is then to conclude with the merger of Volkswagen AG and Porsche SE during the course of the same year," Volkswagen said in a prepared statement for the media on Monday.
The German automaker, which also owns the Seat, Audi, Skoda, Bentley, Lamborghini, Bugatti and Scania brands, said that it expects Porsche's integration will lead to an increase of the VW group's annual operating profit by around €700 million in the long term.
We remind you that Porsche initially tried to acquire the Volkswagen Group by amassing billions of euros in loans, but soon ran out of funding due to the economic crisis ultimately leading to the opposite result...
Ending years of bickering between two of Germany's most successful automakers and the respective families that hold their fate, Volkswagen has announced that it will complete the buyout of the remaining 50.1 percent stake of Porsche's sports...
It’s no secret that Volkswagen has wanted to add Porsche to its portfolio for quite some time now. After Porsche tried to acquire the VW Group without any success, the two companies decided in 2009 to complete a merger until the end of 2011. ...
Volkswagen and Porsche announced that they do not expect their merger to be accomplished within the period they originally established. In late 2009, VW acquired a 49.9% stake in Porsche for €3.9 billion ($5.3 billion) and initiated an integration...
At a time when most automakers are struggling with a sharp downturn, making a €8.586 billion profit (before taxes) in the fiscal year 2007/2008 that ended on July 31 definitely comes to a surprise - especially when we're talking about a company...
Following a meeting held earlier today (Monday, March 3), Porsche’s Supervisory Board authorized the Managing Board to go-ahead and initiate all steps needed to increase the sports carmaker stake in Volkswagen AG to more than 50 per cent. Porsche...