Rus News Journal

Volkswagen and Porsche have agreed about merge

the Supervisory board of a German motorcar giant of Volkswagen has definitively approved the plan of merge to other German motor-car manufacturer - Porsche, transfers Associated Press.
according to this decision, by the end of this year Volkswagen will receive 42 % of actions of Porsche and will pay for them 3,3 mlrd euro (4,7 mlrd dollars). The part of actions belonging to a family of Porsche, also should is sold Volkswagen, which in 2011. Will redeem them for 3,5 mlrd euro (5 mlrd dollars) .
Merge of two companies should be completely complete within two years, thus after Porsche merge will receive considerable independence in decision-making and the operational activity. The Earth the Bottom Saxony to which belongs 21 % of actions of Volkswagen, will possess the right of blocking of decisions in the new company.
earlier it was informed that the supervisory board of holding of Porsche has voted for resignation of the head of company Vendelina Videkinga, and also financial director Holdera Hertera. The new head of the company had been appointed Michael Maht, the councillor of directors responsible for manufacture. Besides, it was informed that Porsche intend to increase the capital on 5 mlrd euro.
Porsche bore plans on absorption of larger competitor of Volkswagen still with 2005. In this time Porsche has taken hold 51 % of actions of autoconcern and accumulated options for 20 %.
However in the course of unfortunate absorption of Porsche has typed debts on 9 mlrd euro and has been compelled to search for foreign investors urgently. Attempt to absorb Volkswagen business has turned back that Volkswagen has actually put forward the ultimatum on merge to Porsche. According to Volkswagen plans, Porsche mark should enter into a ruler of its brands along with Audi and Skoda.