Wallpaper Volkswagen and Porsche Merge Deal
Volkswagen and Porsche have finally come to a deal over their merge, Volkswagen are going to buy the remaining 50.1% of Porsche that they do not currently own, Volkswagen had bought a 49.9% stake Porsche back in 2009.This merge of the two car manufacturers is set to happen on the 1st of August. Volkswagen is going to pay 4.46 billion Euros to for the share of Porsche so that they can merge into one. The Volkswagen chief executive has said that the merge will be “good for Volkswagen, good for Porsche and good for Germany as an industrial location”.
Things had not always run so smoothly between Volkswagen and Porsche, the two companies had agreed that they would merge back in 2009 and had said that it would be completed by the end of 2011. This was not to happen as they were faced with some large legal problems. One of the problems that they had both faced is the possibility of a very large tax bill. It was reported that this large tax bill may have been as high as 1 billion Euros, what had understandably put off both the companies.
Things have turned around a bit for the two companies as Porsche had been trying to take over Volkswagen for many years before. In 2009 Porsche had attempted to gain the required 75% stake it needed for the takeover of Volkswagen, but this attempt failed. But it is not all bad news for Porsche; with the merge of the two they will benefit greatly, their sales and production levels are set to rise which can only be good news as they have been through some harder times recently. We think that the merge will mean great things and a bright future for Volkswagen and Porsche, Porsche will be joining other successful Volkswagen brands such as Bentley, Bugatti and Skoda. This should be a very interesting future for the automotive industry.
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