In the ongoing saga of who will buy out which car company, it looks like VW is going all in and plans to fully acquire corporate sibling and long time corporate rival Porsche. And by ” fully acquire” I mean that Volkswagen is planning to take full ownership of Porsche.
This is all according to Der Spiegel, the respected German news magazine, who said that VW is amending earlier plans to acquire only 50 percent of the German sports car maker and now want it all.
Der Spiegel says the sale will be done in two phases: Phase one is for VW to get 49.9 percent of Porsche, which was VeeWee’s initial plan from a few months back, and then phase two is for VW to buy the remaining shares outright. For Porsche’s end of the deal, they’ll get approximately 8 billion Euros to help counter their massive debts. In the end the Porsche family will end up being a 50 percent owner in a joint VW-Porsche company. By the time all of this is over, VW will make Porsche the tenth brand in the VW family.