Porsche acquires 50% Volkswagen shares
Porsche group has taken over the place of Volkswagen by taking over all its shares. Till now Volkswagen was the biggest European car maker, but now will arrive a new name! It is estimated that with this step the company is surely going to increase in the participation of the group capital of the company by nearly 50.76%, as compared to the existing 42%
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Published On Jan 30, 2009 16:39 IST
Published OnJan 30, 2009 16:39 IST
Last Updated OnJan 30, 2009 16:39 IST
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It has come as a strange news for some that . All now looking to the Swedish laws it is a dream come true for Porsche that the company is making outstanding shares in heavy truck manufacturer Scania, in which the Volkswagen company is already holding its shares. Initially the step regarding the purchase of Volkswagen was taken by Porsche in 2008 but later it was postponed. Further increasing its plans Porsche is planning to increase the shares of the company by more than 75% in 2009. It is Porsche group only which is manufacturing its all captivating Porsche 911 sports car and the other being the Cayenne SUV.
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