Porsche takes control of Volkswagen, as its stake passes 50%

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Petit article trouvé dans le National Post de ce matin

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IDNUMBER 200901070020
PUBLICATION: National Post
DATE: 2009.01.07
EDITION: National
SECTION: Financial Post
PAGE: FP5
ILLUSTRATION: Color Photo: /;
SOURCE: Agence France-Presse
WORD COUNT: 174

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Porsche takes control of Volkswagen, as its stake passes 50%

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The German luxury sportscar maker Porsche Automobil Holding SE has taken over Volkswagen AG, the biggest European carmaker, by purchasing more than 50% of its shares, Porsche said late on Monday. Porsche said that by buying new VW shares, it "will thus increase its participation to 50.76%" of the group's capital, compared with 42% before. As a result, Porsche is now obliged by Swedish law to make an offer for outstanding shares in the heavy truck maker Scania, in which VW is the dominant shareholder. But the German sportscar company will offer a minimum price for Scania shares, and has no "strategic interest" in the company, the statement said. Porsche had initially planned to acquire more than 50% of VW's stock last year but was forced to delay the operation after the value of the shares soared amid frantic stock market speculation.