Porsche secures ten billion euros to buy VW shares

Porsche will use the loan to buy up the remaning share of VW it needs to control the company

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Comments (21)

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gorgonzola

good get rid of blandwaggon.

March 25, 2009 6:04 pm

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Renegade

And then they will want to buy Opel, SAAB, Hummer and Volvo, they want to take over the world.

March 25, 2009 6:13 pm

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4 replies

giga-games

no, i wouldn't say,.their plan is to get 100%stake in vw and this will take long time I supose

March 25, 2009 6:16 pm

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Renegade

Not that much when u make the profit Porsche makes.

March 25, 2009 6:31 pm

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janobr

Opel, SAAB, Volvo i agree, definitely not hummer, VW/Porsche group, should not get involved with american manufactures, Mercedes already made that mistake once, we should just want back what was ours and leave the american rubbish to keep on pulling the American Economy down. I would also add companies like range rover and Jaguar to that list.

March 25, 2009 7:33 pm

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Renegade

Trust me, idiots will buy Hummers with Porsche badges like fresh candy.

March 26, 2009 11:16 am

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trspeed600

Understand that by purchasing VW, they are also getting Audi, Bentley, Bugatti,Seat, Skoda, and Lamborghini in the deal. Porsche is only interested in securing their future parts distribution by contolling VW group. Their were several attemps in the past by other companies trying hostel takeovers of VW group. This would have been disasterous for Porsche as a small auto maker. Now through some genius manuvering on their part, Porsche controls their own destiny. It really is hard to fault them for making this move.

March 25, 2009 8:18 pm

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alex_w115

Is this a move from Piech to get Winterkorn out?

March 25, 2009 9:33 pm

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1 reply

nathandavid88

I wouldn't think so, Piech was the one that put Winterkorn in charge by booting out his predecessor!

March 25, 2009 11:25 pm

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dimeNickel

10bil loan in recession...they sure push the limits

March 26, 2009 12:31 am

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isaacarus

good luck getting lower saxony to sell their share, id say theyre feling pretty powerful right now essentially holding the "controlling" stake that porsche would do a lot to get hold of ;)

March 26, 2009 4:07 am

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1 reply

radmeister

Doesn't lower saxony control only 21%? Porsche can aquire the rest of the shares owned by private parties or firms, then they would have 79%, It will happen, very soon Porsche will be the largest company in the world by market value, assets, and income. With their quarterly profits and asset backing they will be able to buy any other car manufacturer out there, or any other company, hell they could buy Exxon Mobil if they wanted to.

March 26, 2009 12:41 pm

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catchmyshadow

porsche is swimming in money even more soon

March 26, 2009 7:43 am

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911fnatic

10bil loan, the difference is Porsche know what they're doing, their debt is secure. Wiedeking is a very sharp man.

March 26, 2009 8:32 am

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Prince_Ash

its about time, id like to see porsche put in some higher quality into VW and come up with cheap cars that have porsche quality.

March 26, 2009 10:05 am

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2 replies

Joe_Limon

like carpet rear seats?

March 26, 2009 10:23 am

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radmeister

Joe what on earth are you talking about? There are leather covered small pillows last time i checked for back seats in the 911, and you know what they may not be very comfortable but considering the size of the car it was the only way they could get a back seat in there where someone could actually sit. I've rented a mustang GT, i'm 6ft tall and not even a small asian child could sit behind me, in the 911 somebody could actually fit behind me, not a very big person, perhaps a petite girl. And that's the way i like it. Most people end up using the back seats in a 911 as extra trunk space anyways, the breeder that i got my dog from has a 9ff 911 and he sticks the big bags of dog food in the back bench.

March 26, 2009 12:35 pm

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Michael

Joe, I don't know how VW cars for US market look like, but I can assure you the "Made in USA" cars sold in Europe are cheap compared to VW and the other two popular VW brands (Seat and Skoda) as far as materials, execution and technology are concerned. Still, there is a positive exception called Ford. Of course, only those models manufactured in Europe.

March 26, 2009 11:01 am

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scratchy996

Americans think they get the same cars as the Europeans , but they never wonder why the cars built for the US are so cheap compared to the ones built for the European market.

March 26, 2009 7:15 pm

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1 reply

Renegade

Because europeans are snob and like expensive things even that are overpriced.

March 26, 2009 9:54 pm

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Michael

Most of Europeans look for quality. If someone thinks this is snobism, so be it. Look how successful are the American car companies making cars for non-snob Americans.

March 26, 2009 10:43 pm

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