The Emir of Qatar Eyes Porsche Stake

After several media reports hinted that certain parties based in Qatar might be interested in investing in the German auto industry, an article published by German magazine Focus claims the Emir of Qatar plans to buy a stake in sport-car manufacturer Porsche. Furthermore, it might seem like the Emir has already informed Porsche of his interest but there's no official confirmation, or denial, of the report.

A thing worth mentioning is that neither Porsche or the emirate of Qatar were available for comments which, in most cases, is the first sign that there might be some truth behind the report.

Meanwhile, Porsche is still struggling to pay a credit tranche of 3.3 billion euro ($4.35) by the end of the year, Reuters wrote quoting the aforementioned source.

In early 2009, Porsche increased its Volkswagen stake by acquiring up to 50.76 percent of Volkswagen, an increase of 8.16 points from the initial 42.6 percent it owned. Indirectly, Porsche also became the owner of Swedish truck manufacturer Scania and, even if it insisted the company is not interested in buying this particular unit, it was forced by the Swedish legislation to make at least the minimum bid.

"The total value of the Scania shares to which the mandatory offer relates amounts to approximately 31.6 billion kronor (approximately EUR 2.8 billion). The offer price for both series of shares is calculated on the basis of the volume-weighted average stock exchange price of the relevant share during the 20 trading days up to and including 2 January 2009, the last trading day before the acquisition of indirect control of Scania,"
Porsche stated in mid-January after placing the mandatory bid for Scania.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram Twitter
About the author: Bogdan Popa
Bogdan Popa profile photo

Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories