Qatar saves Porsche with 7 billion euros

The Gulf state Qatar has a bid of more than 7 billion euros of shares of Porsche AG group. It seems there is finally an end to the long soap between Volkswagen and Porsche.

With this capital injection is normally full Porsche debt and the acquisition of parent company Volkswagen continue. This was the beginning of problems for the sports car manufacturer from Stuttgart. The final decision but it follows on July 23, there is a Porsche in an extraordinary session of the Board of Trustees.

The bid was placed by the QIA – Qatar Investment Authority – which in fact means that the Sheikh of Qatar, Hamad ibn Khalifa Al Thani receives a large part of the Porsche shares. After Mercedes-Daimler (Kuwait) was the second German car manufacturer Porsche partly in the hands of a Gulf State. In addition, we Ferrari (UAE) have not forgotten. It seems more and more that these countries in addition to their oil profits to benefit from the car. Best economic perfect situation. Porsche late in a first reaction that they bid Qatar as “a huge relief for the whole company” and that as soon as possible debt to operate. It remains now look forward to July 23.

Volkswagen played the game very hard, last month it was an attempt to Porsche to buy 4 billion, the situation is not clear to make. A subsidiary of its parent company wants to buy and vice versa, it’s me there in Germany.

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