Volkswagen announced today that will acquire a 49.9 percent stake in Porsche AG as a first step towards the merger of Volkswagen AG and Porsche SE.
At the initial negociacion in August, Volkswagen intended an initial stake of only 42 percent, but now the 49.9 participation in the operating business of Porsche in on track towards the end of 2009.
The complete integration of Porsche is scheduled to take place during the course of 2011 and so far reports indicate both companies are making swift progress.
Volkswagen is expected to pay close to 3.9 Billion Euros for the 49.9 percent stake in Porsche AG with an increase in Volkswagen’s preferred shared capital planned for the first half of 2010.
21 Oct 2009
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