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VW board to discuss Porsche takeover next monthJanuary 31, 2012 - By Charlotte Stubben |
Volkswagen's supervisory board will discuss plans to acquire the remaining 50.1 percent of Porsche at a meeting on February 14, Automotive News reported.
Volkswagen's supervisory board will discuss plans to acquire the remaining 50.1 percent of Porsche Automobile Holding SE's sports car business at a meeting on February 14, Automotive News reported citing Der Spiegel.
Der Spiegel said the German Finance Ministry already has a draft for the deal available. Volkswagen will have to pay 3.9 billion euros ($5.1 billion) plus taxes for the remaining stake.
Instead of an anticipated 1 billion euros, Volkswagen will have to pay a "low three-digit million" amount in taxes, Der Spiegel said. In total the acquisition will cost Volkswagen a little over 8 billion euros.
Volkswagen declined to comment. "In principle we don't say anything about the agenda of our institutes," a spokesman said.
Der Spiegel said the German Finance Ministry already has a draft for the deal available. Volkswagen will have to pay 3.9 billion euros ($5.1 billion) plus taxes for the remaining stake.
Instead of an anticipated 1 billion euros, Volkswagen will have to pay a "low three-digit million" amount in taxes, Der Spiegel said. In total the acquisition will cost Volkswagen a little over 8 billion euros.
Volkswagen declined to comment. "In principle we don't say anything about the agenda of our institutes," a spokesman said.
Source: Automotive News, Metal Supply
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