Crown

Board: Porsche Language: English Region: Worldwide Share/Save/Bookmark Close

Forum - Thread


    Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    From Forbes:

    Click HERE for Link

    Quote:
    FRANKFURT (AFX) - Porsche AG said it intends to acquire a further 3.9 pct of Volkswagen AG shares, taking its total stake in the carmaker to a blocking minority level of 25.1 pct.

    It said it has submitted an application to the German Cartel Office to obtain clearance for the plans.

    It said the Cartel Office is expected to clear the plans swiftly and once approved, Porsche will increase the shareholding in VW.

    Porsche had already said last autumn that it intends to exercise an option to acquire more shares in VW.



    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW


    If I remember correctly, Porsche disclosed they bought this call option last September. The additional cost for them will be around Euro 500m.

    With 25.1% of the voting rights, Porsche will have a blocking minority. For now their voting rights are "capped" at around 20% because of the "VW" law but this restriction should be lifted within the next 12 month hence the willingness to make sure they have a blocking minority.

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    I do recall the call option, but unless my memory is defective, exercising that option would only have brought them to a 22% stake. I don't recall the exact numbers and a review of PAG press releases was not helpful, but I do think 25% is 2-3% more than what I thought they had options on.

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW


    The option is on 3.9% and will allow them to go from 21.2% to 25.1% (magical number).

    Actually, the situation is a bit more complicated. In the past, VW held approximately 10% of its own shares in treasury shares which had no voting rights. VW decided to cancel them early 2006, therefore Porsche's stake in VW increased mechanically by around 10% even if voting rights stayed the same.

    Going forward with the "VW Law" being lifted % stake and voting rights will be equivalent. However Porche's economic interest in VW is much lower because VW has 2 classes of shares (voting and non voting (pref.)). Porsche currently has a 15% economic interest (ie is consolidating 15% of VW's net earnings).

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    I wish porsche would tell vw to use those circlips on the pinsionshaft again.....

    porsche should just by the whole lot and show people how proper vw's should be made, nice and light not big and heavy.

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    These are the numbers I more or less recall; 18.5% with an option on 3.4% more. Also, interesting rumor in this story, don't you think? Sounds like Porsche planned to go to 25% all along.

    From HSPN News - LINK
    Quote:
    Dr. Ing. h.c. F. Porsche AG, Stuttgart, denies a report by Wirtschaftswoche online that appeared this afternoon, claiming that Porsche intends to increase its holding in Volkswagen AG to 24.9%. Wirtschaftswoche online alleges that this was announced by Porsche CEO, Dr. Wendelin Wiedeking, in an internal meeting with Porsche managers at the Tokyo Motor Show.

    The Porsche CEO did not make these or other alleged statements quoted by Wirtschaftswoche online to either journalists or Por-sche managers. The position of Porsche AG remains that a share of 18.53% of ordinary VW shares has been acquired to date. Furthermore, the Company has hedged against a further rise in the price of VW ordinary shares and can acquire a further 3.4% on the market.

    Dr. Wendelin Wiedeking: "We are currently in positive talks that will find a common denominator for the interests of Porsche AG, Volkswagen AG and the State of Lower Saxony."



    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    Quote:
    EricAlain said:

    The option is on 3.9% and will allow them to go from 21.2% to 25.1% (magical number).

    Actually, the situation is a bit more complicated. In the past, VW held approximately 10% of its own shares in treasury shares which had no voting rights. VW decided to cancel them early 2006, therefore Porsche's stake in VW increased mechanically by around 10% even if voting rights stayed the same.

    Going forward with the "VW Law" being lifted % stake and voting rights will be equivalent. However Porche's economic interest in VW is much lower because VW has 2 classes of shares (voting and non voting (pref.)). Porsche currently has a 15% economic interest (ie is consolidating 15% of VW's net earnings).



    Given their respective positions in stock holdings, isn't a merger only matter of time? How can VW remain independent when a competitor has a blocking interest?

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    I just hope Porsche/VW/Audi doesnt become like Ford/Lincoln/Mercury

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    Don't you mean Ford/Lincoln/Mercury/Volvo/Jaguar/Aston Martin?

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    Quote:
    GM Austin said:
    Don't you mean Ford/Lincoln/Mercury/Volvo/Jaguar/Aston Martin?



    You left out Mazda and Land Rover !

    Ford Motor Company's global brands

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    Quote:
    911fan said:
    I just hope Porsche/VW/Audi doesnt become like Ford/Lincoln/Mercury



    Or Fiat/Ferrari

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    hahah

    Re: Porsche Intends to Acquire a Further 3.9 pct Stake in VW

    Here is another interesting article with same subject:
    http://www.pistonheads.com/news/default.asp?storyId=14288

     
    Edit

    Forum

    Board Subject Last post Rating Views Replies
    Porsche Sticky SUN'S LAST RUN TO WILSON, WY - 991 C2S CAB LIFE, END OF AN ERA 11/24/17 2:38 AM
    JoeRockhead
    254903 1613
    Porsche Sticky OFFICIAL: New 991.2 GT3 (2017) 11/23/17 5:27 PM
    Grant
    228223 3480
    Porsche Sticky OFFICIAL: 911 GT2 RS (2017) 11/22/17 8:31 PM
    LP997
    76457 1148
    Porsche Sticky 992 (Next 911 generation 2019/2020) 11/22/17 9:35 AM
    Gnil
    55998 565
    Porsche Sticky Porsche Mission E - the future of Porsche? 11/22/17 10:22 PM
    SciFrog
    32762 316
    Porsche Sticky OFFICIAL: New 991.2 Turbo S Exclusive Series (2017) 11/23/17 7:04 PM
    EnglishManInNY
    22219 318
    Porsche Sticky OFFICIAL: New Porsche Carrera T 11/24/17 12:48 PM
    acky
    12457 225
    Porsche Sticky Next Cayenne generation approaching fast... (2018) 9/1/17 3:15 AM
    turbolite
    9221 59
    Porsche Sticky OFFICIAL: Porsche 718 GTS models (Oct. 2017) 10/24/17 12:19 PM
    amazon
    5019 19
    Porsche 918 latest news Thread Closed 11/6/17 10:43 AM
    RCA
    538539 5574
    Porsche 991 GT3 RS 11/22/17 10:44 AM
    Gnil
    446282 5791
    Porsche OFFICIAL: 991 Turbo and Turbo S 10/26/17 1:33 PM
    NSXER
    440603 4239
    Porsche OFFICIAL: 2016 Porsche Carrera 911 [991.2] Facelift 3/24/17 12:49 PM
    RCA
    249797 1382
    Porsche OFFICIAL: 911 R (2016) 11/24/17 12:21 AM
    AP911
    242477 2512
    Porsche 997 GT3 RS 4.0 3/15/17 10:40 PM
    noone1
     
     
     
     
     
    229056 737
    Porsche Cayman GT4 11/19/17 1:54 PM
    the-missile
    206836 2458
    Porsche 991 GT2 RS (2017) - Rumors, speculations and gossip Thread Closed 7/3/17 2:04 PM
    RCA
    173225 1699
    Porsche OFFICIAL: New 991.2 Turbo and Turbo S 11/13/17 4:48 PM
    RCA
    159201 1066
    Porsche The moment I've been waiting for... 11/13/17 2:32 AM
    Pilot
     
     
     
     
     
    158804 874
    Ferrari 488 GTB/GTS 11/21/17 3:35 PM
    Topspeed
    134214 1169
    McLaren McLaren on a winning streak 11/25/17 12:01 AM
    noone1
    132408 2722
    Porsche 991.2 GT3 Thread Closed 3/7/17 11:47 AM
    RCA
    122133 1651
    Porsche Collected my 997 GTS today 1/22/17 7:32 AM
    BiTurbo
     
     
     
     
     
    106373 801
    Porsche OFFICIAL: New Panamera (2016) 9/11/17 9:24 AM
    RCA
    106237 1254
    Porsche Boxster Spyder (981) 7/18/17 9:22 PM
    beltar
    105111 688
    Others Audi R8 V10 Plus (2016 model) - Review (updated Feb 13th 2017) 11/2/17 11:05 AM
    RCA
    102193 1825
    Ferrari Ferrari F12 Berlinetta / 599 GTO Successor 11/12/17 3:18 PM
    nberry
    82949 753
    Porsche OFFICIAL: 718 Boxster (2016) 10/20/17 11:17 AM
    DaveGordon
    79850 732
    Others VW caught cheating emissions tests 7/10/17 2:36 PM
    RCA
    76982 861
    Porsche 991 GTS 4/3/17 4:27 PM
    bluelines
    64720 247
    382 items found, displaying 1 to 30.