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| Name | Symbol | Market | Type |
|---|---|---|---|
| Porsche Automobile Holding SE (PK) | USOTC:POAHY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 4.70 | 4.55 | 4.80 | 0.00 | 12:09:41 |
From Jul 2019 to Jul 2024
Volkswagen AG (VOW.XE) said Wednesday it finalized the acquisition of the remaining 50.1% stake in Porsche Automobil Holding SE's (PAH3.XE) sportscar business it doesn't already own as planned.
"The path is now finally clear for a bright future together," Volkswagen Chief Executive Martin Winterkorn said in a statement.
"Even closer cooperation will enable us to significantly strengthen Volkswagen and Porsche, and further expand the group's product portfolio," he said.
"Porsche will retain its own identity and operational independence, just like all of the other group brands," Mr. Winterkorn added.
MAIN FACTS:
- Volkswagen now holds all shares in Porsche's sportscar business through a holding company.
- According to previous statements, Porsche's holding firm will use the EUR4.46 billion in cash to repay its bank liabilities. The remaining money is supposed to be used for strategic investments in automotive assets.
-Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Porsche Automobile (PK) Chart |
1 Month Porsche Automobile (PK) Chart |
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