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May 06, 2009

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Another Wedding in Heaven? Porsche and Volkswagen consider to merge

The members of the management boards of both Volkswagen AG and Porsche Automobil Holding SE have been in intensive talks about the deepening of the cooperation over the past weeks. The family shareholders of Porsche Automobil Holding SE, Suttgart, have discussed the proposals resulting therefrom, with the inclusion of capital measures, this Wednesday and argued for the creation of an integrated car manufacturing group. In the final structure ten brands shall stand below an integrative leading company alongside each other, whereby the independence of al brands and explicitly also of Porsche shall be ensured.

During the next four weeks, a joint working group whose members will come from Volkswagen and Porsche will consult intensively with the State of Lower Saxony and the workforce at both companies to prepare the basis for a decision on the future structure.

 

 

(May 2, 2009)


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