Volkswagen is to pay ?3.3 billion ($4.7B) for a 42 percent stake in Porsche’s main production division, the two German carmakers said yesterday as they thrashed out more details of a move towards a full integration. In a move that will amount to a rescue of debt-laden Porsche, VW will also buy the automobile trading business of Porsche Holding Salzburg, Europe’s biggest vehicle dealer that is also owned by the sports car maker’s family owners.
Tag Archives: lower-saxony
Germany Sees Departing Porsche Boss as Symbol of Capitalism’s Excesses
It’s hard to feel sorry for a guy who walks away from a job with a check for €50 million .