Sign in Register
Posted On: 3 September 2009 01:36 pm
Updated On: 12 November 2020 02:10 pm

Qatar takes 10pc voting stake in Porsche

Paper Boy
Paper Boy
Discuss here!
Start a discussion
Qatar has taken a 10 percent voting stake in Porsche Automobil Holding SE as agreed, the German automotive group said yesterday. It gave no financial terms for the sale, which was announced last month and gives outsiders a say at the family-owned company for the first time. Qatar will hold the stake via a series of investment arms. The deal is part of a broader accord that will see Porsche eventually merge with Volkswagen , Europe’s biggest carmaker. Porsche owns just over half of VW, but its attempt to seize full control backfired as its debt mounted just as car markets collapsed. Reuters