Rus News Journal

Qatar gets 10 % of actions of Porsche

the Government of Qatar gets 10 % of actions of a German motor-car manufacturer of Porsche Automobil Holding SE, is told in the message of the company extended today. Qatar company Qatar Holding LLC which operates in interests of the government participates in the transaction.
both old, and new owners of actions intend to support the transaction on merge of German autoconcern to Volkswagen, it is marked in a press - release. In a case if merge of two German autoconcerns will not take place, Qatar Holding undertakes to sell the taken shares back to shareholders.
simultaneously the parties have agreed about sale of the majority of options for the actions of Volkswagen belonging to supervising Porsches to families. It will liberate nearby 1 mlrd euro for Porsche which serve now obespechitelnym as pledge on the specified papers.
Porsche Supervisory board has already approved this transaction, and corresponding documents have been signed today in Stuttgart, is informed in a press - company release.
the day before it became known that the supervisory board of a German motorcar giant of Volkswagen has definitively approved the plan of merge to other German motor-car manufacturer - Porsche. According to this decision, by the end 2009. Volkswagen will receive 42 % of actions of Porsche and will pay for them 3,3 mlrd euro. The part of actions belonging to Porsche, is planned to sell Volkswagen, which in 2011. Will redeem it for 3,5 mlrd euro.
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.
Porsche with 2005. Bore ambitious plans on absorption of stronger competitor of Volkswagen - the autoconcern of Europe largest on sales. For these years 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. Ambitious attempt of Porsche 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.