Porsche achieved an absolute majority of Volkswagen

Posted By Manoj in Cars category on Thursday, January 8, 2009, 7:53

volkswagen-lavida Porsche achieved an absolute majority of Volkswagen

Porsche is above 50% (50.76%) in the capital of , becoming the majority shareholder, and has thus acquired the indirect control of Swedish Scania, which specializes in building trucks, and the home of the “horses” – while reiterating its non-interest in the type of product Scania – will be obliged by law to submit a bid Swedish purchase. The announcement, which the Frankfurt Stock Exchange has put the spotlight titles latest car Volkswagen (+4% to 272.5 euros), was expected because Porsche had already expressed in recent months its intention to rise to 75% in Volkswagen this year, when the market was “more favorable”.

volkswagen-lavida-2 Porsche achieved an absolute majority of Volkswagen

L ‘only obstacle that Porsche was on the way to this goal is the status of the house enjoys Wolfsburg from the sixties and that provides a blocking minority shareholder for the public, the Land of Lower Saxony owns about 20 % of Wolfsburg. Analysts believe that the blocking minority will be abolished, thanks to the strong opposition of the EU Commission, but not before 2010.

The growth of the participation of Porsche in Volkswagen is also seen as a positive analysts Goldman Sachs, as contrasts the fears that Porsche could not finance such an operation having regard to the deadline in March, a loan of 10 billion euros. This is a “historic”, especially in this particular crisis and turbulence in the market, where concentration and made a factor of resources seem to be, along with lower costs and critical mass, the ingredients of the recipe alone can guarantee the market presence of major global manufacturers.

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