As announced on July 5 2012, Volkswagen, which previously owned 49.9% of the Stuttgart automaker's stock, finalized its purchase of the remainder of Porsche's shares today.
The Volkswagen group now owns 100% of Porsche's shares, although the company will retain its own brand identity as well as operational independence. Volkswagen hopes to become the top auto company in the world by 2018. With Porsche as the 12th brand of the Volkswagen group, the company is now closer to its goal.
Porsche made a failed attempt to acquire Volkswagen in 2008.
Source: lesaffaires.com
The Volkswagen group now owns 100% of Porsche's shares, although the company will retain its own brand identity as well as operational independence. Volkswagen hopes to become the top auto company in the world by 2018. With Porsche as the 12th brand of the Volkswagen group, the company is now closer to its goal.
Porsche made a failed attempt to acquire Volkswagen in 2008.
Source: lesaffaires.com