PB - Part 593

Porsche Will Run Autonomously In North America – MotorAuthority

Posted on 13. Aug, 2009 by PB.

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Porsche is on the verge of forming a deeper tie-up with the Volkswagen Group in what can only be described as a major acquisition of the legendary sports car manufacturer. There’s plenty of talk that Porsche will remain independent but …

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Porsche, Volkswagen Iron Out Merger Details – Automotive News …

Posted on 13. Aug, 2009 by PB.

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Browse the latest car rumors and auto industry news including the blog: Porsche , Volkswagen Iron Out Merger Details – Automobile Magazine.

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The Beginning of the End of the Beginning (or something like that).

Posted on 13. Aug, 2009 by PB.

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In an announcement today that surprised few and confused many, Porsche and Volkswagen made news by releasing information about their ongoing merger madness that requires an advanced degree in finance to make heads or tails of the various components. After a number of reads and a bit of research I think things distill down like this: Volkswagen is acquiring a 42% stake of Porsche AG (the sport car manufacturer and subsidiary of Porsche, SE) for 3.3 billion euros or $4.7 billion dollars (placing an enterprise value of 12.7 billion euros on the entire unit). In order to finance the purchase, VW plans to raise capital by issuing new “preference” share in Volkswagen AG Okay, let’s take a breather for a second. If I have this right, VW is going to raise capital by increasing their outstanding shares in order to purchase a 42% stake in Porsche, AG, which is currently owned by Porsche, SE (who already owns 51% of VW). Is anyone else confused??? In a further attempt to rid itself of the massive mountain of debt created during Porsche’s failed attempt to acquire VW, Porsche has the option to sell its trading business, Porsche Gesellschaft m.b.H, (another separate subsidiary of Porsche, SE) to VW. The current value of this organization, according to AutoNews.com, is 3.5 billion euros. Volkswagen CEO Martin Winterkorn was named CEO of the new Porsche SE entity while Michael Macht, the current CEO of Porsche AG will take a “top management position” in Volkswagen AG. If all this wasn’t confusing enough, Lower Saxony, which owns a stake equal to 20 percent in Volkswagen, retains a veto vote that can block certain decisions and will nominate two members of the supervisory board. Last but not least, let’s not forget about Qatar. Remember them? According to VW’s CEO (who is that again after all this?), Qatar will still have a place in the new company and in fact will become the third largest investor in the combined entity. While specific numbers have not been released, it is rumored to be 17%. Last but not least, it appears that everything hinges on the approval of the key banks involved. Assuming that permission is granted, we can expect a completed integration by the end of 2011 If anyone else has a different take on things or understands things differently, please let me know. I need all the help I can get!!!! Related Posts An Idiot’s Guide to Porsche’s Financial Woes Porsche Expects a Loss of up to €5b [Source: Porsche SE, Autonew.com]

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VW to buy 42 percent stake in Porsche, paves way for merger

Posted on 13. Aug, 2009 by PB.

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Following weeks of negotiations, Volkswagen has agreed to purchase a 42 percent stake in Porsche , totaling a $4.7 billion investment. The move will combine the two German automakers, likely under the revived Auto Union banner. …

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Monterey 2009: Porsche Panamera makes North American debut — Autoblog

Posted on 13. Aug, 2009 by PB.

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You might have guessed that Porsche was one of the official sponsors of Gordon McCall’s Motorworks Revival at the Monterey Jet Center this year by all of the Panameras (Panamerae?) on hand. Although we’ve already sampled Stuttgart’s …

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VW agrees Porsche merger details | Stock Market News – Business …

Posted on 13. Aug, 2009 by PB.

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Volkswagen (VW) and Porsche have agreed the details under which VW will merge with its German compatriot by 2011.Under the deal, VW will initially buy a 42% stake in Porsche by the end of this year for 3.3bn euros ($4.7bn; £2.8bn).

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Shooting Fake: Porsche Cayman Shooting Brake a Top Gear hoax …

Posted on 13. Aug, 2009 by PB.

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Under Holstein’s direction, DuVull used as many Porsche design themes as possible, including lots of cues from the Panamera, Porsche development wheels, a Porsche mule lookalike bumper and even the same license plate used on Porsche …

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Porsche 996 Turbo S on Flickr – Photo Sharing!

Posted on 13. Aug, 2009 by PB.

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Porsche 996 Turbo S. … Hi, I’m an admin for a group called Porsche 911 (996), and we’d love to have this added to the group! Wat een onmundig gaaf ding zeg!! lekker foto zo. Posted 4 months ago. ( permalink ) …