official: Porsche another VAG Brand!

[itisme]

According to german press agency (Deutsche Presse Agentur: dpa) the Porsche and Piech Clan agreed with the VW offering to buy half of Porsche AG. That's what dpa got informed of porsche.

According to Spiegel Online, Wiedeking is out of business and production CEO Michael Macht is his fellow...

btw "Macht" is power in english ;):D

just wanted to share germans latest news ;)

[Audiphile]

The weide "King" got what he deserved. Congrats to VW-Audi. It shall be interesting

[MrBucket]

So does this mean they will stop putting limits on what Audi will do with their sporty models?

[itisme]

So does this mean they will stop putting limits on what Audi will do with their sporty models?


I can't tell... only thing i read today, is that the first 50% on porsche are jaust part 1 and some time later they'll buy the last 50%...

[roadrunner]

So does this mean they will stop putting limits on what Audi will do with their sporty models?

It sure does, because now - not Porsche is in the position to make these decisons - but Wolfsburg.

This is the best solution for all this:

1. VW has lots of experience and success in managing multiple brands

2. VW has proven to let some brands quite a lot of freedom = Audi

3. VW has proven to be sensible enought with brands with a log heritage: Bugatti, Bentley and Lamborghini (trough Audi)

4. Therefore i'm certain that Porsche will continue to prosper under VW, if not surpass current succeses (business cases much easier though the wide VAG parts bin)

I'm more than satisfied to see Audi's future not being decided in Zuffenhausen.

The future VAG ownership structure:

50,1% Porsche & Piech family
20% state of Lower sachsony
14,9-19,9% State of Katar

The only downside of this solution: Wideking might get up to 100 millio EUR :doh: :noshake: compensation for having to leave his contract early (before 2012)

Still worth every penny, as it secures bright future for Audi

[Z07]

The weide "King" got what he deserved. Congrats to VW-Audi. It shall be interesting
The Weideking is getting Euro100m ($150m) when he leaves the mess behind on top of his Euro80m/year salary. All for knocking Euro20bn off the value of the company in just 2 years. With those credentials he'll probably go straight into a job in the financial sector.

[roadrunner]

The Weideking is getting Euro100m ($150m) when he leaves the mess behind on top of his Euro80m/year salary. All for knocking Euro20bn off the value of the company in just 2 years. With those credentials he'll probably go straight into a job in the financial sector.

If it wouldn't be soo sad :doh: - it would have been quite funny :)

[gjg]

The Weideking is getting Euro100m ($150m) when he leaves the mess behind on top of his Euro80m/year salary. All for knocking Euro20bn off the value of the company in just 2 years. With those credentials he'll probably go straight into a job in the financial sector.

naah, he'll get a job in Osama administration as "finance" advisor to Nacy Pelosi..... :noshake:

[EKaru]

VW/Porsche deal in jeopardy over tax liabilities
http://www.autocar.co.uk/contentImages//NonCar/2349911016941234x155.jpg

VW's takeover of Porsche would be scuppered by tax liabilities, according to a German newspaper.
The Sueddeutsche Zeitung newspaper quoted Porsche sources as saying that taxes of 3 billion Euros (£2.5 billion) that would go along with any takeover could become a deal-breaker.

Twitter - follow autocar.co.uk

The news follows reports that Ferdinand Piech is putting immense pressure on the Porsche family to sell a majority of its shares to VW and fire company boss Wendelin Wiedeking, a move which is likely to cost around £80 million in severance pay.

Porsche and Volkswagen declined to comment on the report. Both companies have scheduled board meetings this Thursday, with the fate of Porsche set to be decided then.

Insiders say VW wants to buy a 49.9 per cent stake in Porsche immediately, with an agreement to acquire the rest at a later date.

Porsche is reported to have debts of 14 billion Euros (£12 billion) at present, which it picked up in its abortive attempts to take over VW last year.

The news of the tax liabilities sent VW and Porsche shares plunging nine per cent and eight percent respectively.
http://www.autocar.co.uk/News/NewsArticle/AllCars/241638/

[Z07]

I love severance pay. You're shit, here's a nine-figure sum, now go away.