One of the most anticipated stories in recent weeks has been over future developments between Porsche and Volkswagen.
To recap, Porsche Automobil Holding SE (which owns Porsche Cars) had been attempting to acquire a controlling stake - 75% of stock - in Volkswagen A.G. and in doing so run up considerable liabilities. This combined with the downturn in car sales as a result of the credit crunch, has led to an apparent critical situation, leading to intense meetings, discussions and arguments between the controlling Porsche and Piech families.
Today a landmark decision was reached, which will result in the eventual integration of the two organizations.
Somehow the severity of the situation has all family shareholder of Porsche in agreement.
Today they decided that an integrated car manufacturing group shall be created. In the final structure of this group 10 brands will exist under the the leading company. Assurances are given that each brand, and especially and explicitly Porsche, will have their independence preserved
Exactly how this will exist is not yet clear - over the next month or so there will be further discussions to determine the correct corporate structure, with the State of Lower Saxony, and employee representatives from both VW and Porsche being involved in these discussions..
Source: Porsche
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