VW set to buy-out Porsche
We got our first hint that Porsche and VW would merge into a single company back in May but ever since no deal has officially gone through. Today however, reports suggest that VW is all ready to actually buy-out Porsche effectively merging the two companies.
The deal will apparantly allow Porsche to get out of the severe debt they are currently with as VW will pay off €8 billion of their €10 billion+ debt in two stages.
If all goes well and this deal pans off, VW is looking at a 49.9% share in Porsche. Now let’s see a VW branded supercar hit the market!
via Autoblog
Tags: buyout, economy, merge, Porsche, recession, VW