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Volkswagen to Finalize Porsche's Sports Car Business Takeover this August

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Ending years of bickering between two of Germany's most successful automakers and the respective families that hold their fate, Volkswagen has announced that it will complete the buyout of the remaining 50.1 percent stake of Porsche's sports car business it doesn’t own already for €4.46 billion (US$5.6 billion).

In a joint statement, Volkswagen and Porsche said that the deal will be completed by August 1, 2012.

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Volkswagen to Finalize Porsche's Sports Car Business Takeover this August Volkswagen to Finalize Porsche's Sports Car Business Takeover this August Reviewed by Unknown on 09:05:00 Rating: 5

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