Monday, January 30, 2012

Volkswagen will soon own all of Porsche

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Currently, Volkswagen owns 49.9% of Porsche and reports here in Germany are stating that on February 14, 2012, VW will purchase the remaining 50.1% for complete ownership. According to Der Spiegel, VW will pay €3.9 billion (around $5.1B USD) to own the company that was originally started together with VW by Dr Ferdinand.

The overall takeover could mean more VW's and Porsche's will be built joint together. As of now it is said that Porsche will still act as it does currently with no change to racing and vehicle development, even though they will share the same CEO and CFO.

Click HERE for the full story

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