Volkswagen officially controls 49.9% of Porsche

By Auto News Log • December 12th, 2009

Germany will soon be host to a historic merger, as Volkswagen and Porsche are soon set to become one entity, with the Stuttgart manufacturer entering the Volkswagen Group. The biggest hurdle was already passed a few days ago when VW announced that it has acquired 49.9% of Porsche.

“The combination of the two companies follows a compelling strategic, industrial and financial logic. For the Volkswagen Group, Porsche ideally complements the brand portfolio. The Stuttgart-based car maker will allow Volkswagen to further expand its position in the premium business, which offers particularly strong earnings. In turn, as an independent brand under the roof of the Volkswagen Group, Porsche will have the potential for significant additional growth,” revealed VW.

As you all know, Porsche did attempt a takeover of VW, but failed, resulting in some pretty big debts, which coupled with the financial recession, left it no choice but to merge with Volkswagen in order to become solvable once more.

Expect many collaborations and platform-sharing to be done between the two entities, and an array of new models.

Source: Volkswagen

 

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