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 (Part II) 3/28/24 3:21 AM
    watt
    689138 1780
    Porsche Sticky Welcome to Rennteam: Cars and Coffee... (photos) 2/19/24 11:51 PM
    Wonderbar
    408981 564
    Porsche Sticky OFFICIAL: Cayman GT4 RS (2021) 5/12/23 12:11 PM
    W8MM
    255660 288
    Porsche Sticky OFFICIAL: Porsche 911 (992) GT3 RS - 2022 3/12/24 8:28 AM
    DJM48
    234903 323
    Porsche Sticky The new Macan: the first all-electric SUV from Porsche 1/30/24 9:18 AM
    RCA
    65479 45
    Porsche Sticky OFFICIAL: Taycan 2024 Facelift 3/15/24 1:23 PM
    CGX car nut
    4642 50
    Porsche The moment I've been waiting for... 2/1/24 7:01 PM
    Pilot
     
     
     
     
     
    857821 1364
    Porsche 992 GT3 7/23/23 7:01 PM
    Grant
    773792 3868
    Porsche OFFICIAL: New Porsche 911 Turbo S (2020) 4/6/23 7:43 AM
    crayphile
    447810 1276
    Porsche Welcome to the new Taycan Forum! 2/10/24 4:43 PM
    nberry
    378797 1526
    Porsche GT4RS 2/22/24 5:16 AM
    tso
    365543 1424
    Porsche Donor vehicle for Singer Vehicle Design 7/3/23 12:30 PM
    Porker
    360739 797
    Others Tesla 2 the new thread 12/13/23 2:48 PM
    CGX car nut
    354652 2401
    Lambo Aventador and SV 3/30/23 1:59 PM
    CGX car nut
    279075 724
    Ferrari Ferrari 812 Superfast 4/21/23 8:09 AM
    the-missile
    275455 550
    Porsche Red Nipples 991.2 GT3 Touring on tour 3/14/24 8:55 PM
    blueflame
    272473 658
    Porsche Collected my 997 GTS today 10/19/23 7:06 PM
    CGX car nut
     
     
     
     
     
    248198 812
    Lambo Huracán EVO STO 7/30/23 6:59 PM
    mcdelaug
    225021 346
    Others Corvette C8 10/16/23 3:24 PM
    Enmanuel
    217897 488
    Lotus Lotus Emira 6/25/23 2:53 PM
    Enmanuel
    196660 101
    Others Gordon Murray - T.50 11/22/23 10:27 AM
    mcdelaug
    155292 387
    Porsche Back to basics - 996 GT3 RS 6/11/23 5:13 PM
    CGX car nut
    126869 144
    Ferrari [2022] Ferrari Purosangue (SUV) 4/15/23 5:20 AM
    watt
    120449 141
    BMW M 2024 BMW M3 CS Official Now 12/29/23 9:04 AM
    RCA
    105942 303
    Motor Sp. 2023 Formula One 12/19/23 5:38 AM
    WhoopsyM
    102495 685
    Others Valkyrie final design? 4/28/23 2:45 AM
    Rossi
    97639 219
    Porsche 2022 992 Safari Model 3/7/24 4:22 PM
    WhoopsyM
    81034 239
    AMG Mercedes-Benz W124 500E aka Porsche typ 2758 2/23/24 10:03 PM
    blueflame
    74331 297
    Porsche 992 GT3 RS 3/3/24 7:22 PM
    WhoopsyM
    52112 314
    Motor Sp. Porsche 963 3/16/24 9:27 PM
    WhoopsyM
    23091 237
    133 items found, displaying 1 to 30.