Qatar buys 10 percent of Porsche
Friday, August 14th, 2009The Qatar is equipped with a double blow to the future car giant Volkswagen, Porsche entered. Qatar takes over for an undisclosed amount 10 percent of Porsche shares.
(ap) In addition to the Porsche ordinary shares held by the owner families Porsche and Piëch Qatar over the bulk of options on VW ordinary shares, the Porsche still holds.The Porsche announced on Friday in Stuttgart.
How many VW shares in the State Investment Company Qatar Holding LLC can buy now, wanted a Porsche spokesman, on request not been made. Most recently, unconfirmed reports in sizes from about 20 percent of the speech was.
The price of VW shares fell: the VW ordinary shares lost time in the afternoon as 27 percent to 165 euros. The course was regarded as overvalued for months.
The company Porsche is flowing out of business one billion euros. This is not a sales gain for options, but the money was used as collateral for the bank deposit options and is now free.
Part of the commitment is the commitment of Qatar Holding, with up to 265 million euros in a loan for Porsche to participate. Qatar’s third aim is to owners in a Group planned Volkswagen, Porsche, after the families Porsche / Piëch and the Land of Lower Saxony.
