Andrew posted a link in one of his comments today to a Forbes.com article about the potential Qatar investment in Volkswagen. I was thinking the investment was going to be in Porsche, but it looks like Porsche would be selling up to 25% of it’s stake in VW to Qatar. Sorry VW owners, but I feel better about this one already.
Here’s the highlight paragraphs of the story:
On Wednesday, news that Qatar expects to reveal the outcome of talks on buying a stake in Porsche in two to three weeks raised questions on what other alternatives are there left for Porsche to get rid of its climbing $12.5 billion debt.
“We are still discussing the stake. According to the legal agreement between the two parties, neither of them is allowed to disclose any information about it before it is sealed,” The Gulf Times said, quoting Sheikh Hamad bin Jassem al-Thani from Reuters. [Source: Forbes.com]
I’m still hoping for a VW/Porsche merger. I’d love for Porsche to come out on top.
Here’s a link to the Forbes.com article if you want to indulge yourself: What Lies Ahead For Porsche?