Porsche board set to meet next week to discuss Qatar deal
16 July 2009

Porsche is closing in on a deal with Qatar which would reduce the struggling sportscar maker’s ten billion euro (£8.5 billion) debt.

Porsche chairman Wolfgang Porsche has reportedly called a board meeting for 23 July to discuss the Qatari investment.

Twitter - follow autocar.co.uk

The German firm owns a 51 per cent holding stake in VW, which is pressing for the two companies to merge. Porsche is not keen on this situation and would rather do a deal with Qatar.

Porsche and VW have organised separate board meetings on the same day, which suggests that a deal between the two firms is not close.

Sources close to the Porsche/Qatar deal told Reuters that the Gulf state would invest five billion euro (£4.28 billion) in Porsche.

This figure would be matched by the Porsche and Piech families which control Porsche, with the aim to clear the firm’s debt and press ahead again with its takeover of VW.

In return, Qatar would receive around 20 per cent of Porsche’s voting stake in VW.

See all the latest Porsche reviews, news and video

See all the latest Volkswagen reviews, news and video

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Lexus LC500
    Car review
    20 October 2017
    Futuristic Lexus LC coupé mixes the latest technology with an old-school atmospheric V8
  • Maserati Levante S GranSport
    First Drive
    20 October 2017
    Get ready to trade in your diesels: Maserati’s luxury SUV finally gets the engine it’s always needed
  • Jaguar XF Sportbrake TDV6
    First Drive
    19 October 2017
    The handsome Jaguar XF Sportbrake exhibits all the hallmarks that makes the saloon great, and with the silky smooth diesel V6 makes it a compelling choice
  • Volkswagen T-Roc TDI
    First Drive
    19 October 2017
    Volkswagen's new compact crossover has the looks, the engineering and the build quality to be a resounding success, but not with this diesel engine
  • BMW M550i
    First Drive
    19 October 2017
    The all-paw M550i is a fast, effortless mile-muncher, but there's a reason why it won't be sold in the UK