Volkswagen supervisory board is to discuss completing the buy-out of Porsche next month

The Volkswagen supervisory board is due to discuss completing the buy-out of Porsche AG on the 14 February, according to reports from Germany.

VW already owns 49.9 percent of the carmaker and, according to the reports, it is preparing to purchase the other 50.1 percent. German magazine Der Spiegel says VW will pay £3.2bn ‘plus taxes’ for the stake, the same price it paid in December 2009.

VW first stepped in when Porsche’s parent company was close to collapse in the wake of the credit crunch and Porsche’s attempt to takeover VW itself.

Under the ambitious leadership of Wendelin Wiedeking, Porsche had tried a reverse takeover of VW, building up a 50 percent stake in the giant carmaker before the slump took hold, leaving Porsche AG with massive debts.

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30 January 2012

VW taking full control of Porsche has been a foregone for some time. This story begs the question: why has it taken so long? I presume that VW didn't want to get embroiled in any investigations into Porsche's alleged market manipulation a few years back. Is this now done and dusted? If it is, then I guess VW can proceed safe in the knowledge that Porsche won't get hit for a hideous fine for which VW would subsequently become liable. The other issue wrapped up in this is the number of restrictive clauses that govern what VW can and cannot do with Porsche in terms of streamlining their combined operations from a parts-sharing point of view. Martin Winterkorn was reported as saying that he couldn't share or change so much as a screw on a Porsche without lawyers being present. If VW now has total control over Stuttgart, then I guess Porsche will have to do exactly what it is told? Given that Ferdinand Piech is a major Porsche family shareholder as well as VW Chairman, I have no doubt that Porsche is in safe hands. More than that, Piech's track record speaks for itself. He may be 80+ years old, but I can't wait to see his vision for Porsche unfurl. Piech is as much a genius in the Car industry as Steve Jobs was in the Computer industry. This being the case, I finally want to see Porsche produce some exciting cars. First, let's have an entry level 550 Spyder that costs under £30,000. Second, sort out the dog's dinner also known as the Porsche Panamera. Third, let's keep the 911 until people stop buying it, but, please, for the love of Mike, give people a reason to stop buying it by producing a true successor.

30 January 2012

I just hope that future Posrche models no longer become primarily VW-based products and lose their design independence, character and engineering prowess. The last thing I'd want to see is the 911 replacement being no more than a rebodied Audi R8 and Gallardo, even if it went mid-engined. Or a future Panamera being based on an Audi A8.

30 January 2012

Oh yummy; some 1.6TDi Porsches in the pipeline...

  • If you want to know about a car, read a forum dedicated to it; that's a real 'long term test' . No manufacturer's warranty, no fleet managers servicing deals, no journalist's name to oil the wheels...

30 January 2012

This should secure Porsche' long term survival.VW need to sort out the ugly Panamera but lets hope they dont turn Porsche models bland like VW itself

31 January 2012

The reverse purchase was a clever strategy to prevent VW taking Porsche over. But like in many business plans, outside influences can lay bare the good bones and kill it. Can you imagine if the Freddie Mac and Fanny Mae fiasco hadnt happened and embroiled the world in the biggest wanker (sorry banker) scandal of all time. We would already have a Porsch Polo with a 1 litre flat 4 turbo churning out 185bhp through the rear wheels!! WOW. Damn those bankers wankers they did more damage than the world understands

31 January 2012

Fabulous, the next Boxster will be Golf derived and will have cheaper Skoda and Seat cousins....and they haven't yet fitted that 2 litre diesel to enough derivatives yet, so let's hope that they can squeeze it into the 911.

31 January 2012

In real terms this will make no difference to the operational state of Porsche as we see it today. The finalisation of the buy out is just about bits of paper.

 

 

It's all about the twisties........

31 January 2012

[quote TegTypeR]

In real terms this will make no difference to the operational state of Porsche as we see it today. The finalisation of the buy out is just about bits of paper.

[/quote]

That's what I'm thinking, or at the very least hoping.

Hopefully, Porsche will retain its operational, design and engineering independence and VW will only deal with the financial/investment side of things. I trust that both companies are more than smart enough, more so than plebs like me, to not mess with the brand's purity and what has in the main been a successful formula.

31 January 2012

A disaster. So much for global capitalism encouraging competition. What we see, time after time, is a monolithic corporation voraciously gobbling up every company in its likeness. I thought Porsche's bid for VW absolute hubris and folly. We see the result. This is no different. At the very least, careers will be governed by one central ethos, prices by one accounts department.

Result? No genuine choice for the customer, workers under one rule.

31 January 2012

[quote Los Angeles]

A disaster. So much for global capitalism encouraging competition. What we see, time after time, is a monolithic corporation voraciously gobbling up every company in its likeness. I thought Porsche's bid for VW absolute hubris and folly. We see the result. This is no different. At the very least, careers will be governed by one central ethos, prices by one accounts department.

Result? No genuine choice for the customer, workers under one rule.

[/quote]

I have feeling that VW will not corrupt Porsche in the same way it has Bentley and Lamborghini. Its only a feeling and I may/might be wrong, but arguably people at VW have more respect for Porsche (engineering excellence) than what they had for the Italians (Lamborghini: oddball, inconsistent quality, dynamic flaws) and the Brits ( Bentley: old dinosaur - little evolution let alone innovation).

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