Porsche and Volkswagen merge encounters a crisis of 30 million euros in tax

July 23rd, 2009   145 views
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As far as Germans media coverage, because the potential for huge tax issue, Volkswagen and Porsche of merger negotiations may abort.

Porsche supervisors sources, the acquisition will
ing about 30 million euros (about 43 billion) of the tax burden, which may become an end the two companies merged negotiations fatal problem.Porsche and Volkswagen refused to comment on this matter.

A Frankfurt trader commented that 30 million euros is a considerable funds sufficient to make the whole industry structure riffle.

Today the stock of the two companies: Volkswagen necessitated the decline of common stock plunges 9.2% compared with the date of the German stock market, invasive of blue chip index of the largest decline; Meanwhile, investors concerned tax problems cannot be resolved, Porsche stocks also slipped 7.9%.

Urgent need to rush a Porsche now make their debt from heavy, so that relatively negotiating initiative, but a few months, its controlling shareholders Porsche and pied Shirin family (Porsche and Piech families) room is how to resolve the debt problem, as well as problems with the mass of merge serious disagreements.Although there are reports that, prior to that controlled the company”s majority shareholder Porsche family, had wished to accommodate us rival pied Shirin family dismissal company CEO Wendelin Wiedeking, to the public sale of its sports car series and Porsche, to resolve the heavy debt burden.

For this matter, Porsche Supervisory Board Deputy Chairman several times to the media denies, its the incumbent Chief Executive Officer, are fighting for their own approximately 1 billion euros for the dismissal of gold, and the company also does not specify next appointment.Germany the picture Pao reference insiders reveal the message, Porsche”s sales as high as $ 140 million euros, which would help Porsche SE pay off all debts, but Porsche spokesman denied that this allegation.

According to another journal reports in Germany for two major shareholders Porsche and pied Shirin family have reached a consensus may be made public Thursday accept 80 million euros in the acquisition of Porsche plan.By then, Volkswagen will hold a Porsche 49.9% of equity, and gradually completed the acquisition of Porsche remaining assets.This will be born a new ten comprehensive auto manufacturers of
and, Ferdinand Piech will be appointed as Chairman of the new company.

Meanwhile, Porsche was also conducted in close consultation with and Qatar, in its complete and after the merger of the public, you may take the derivative contracts granted 20% of shares in Qatar.

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