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November 23, 2009

The Supervisory Boards of Porsche SE and Volkswagen AG announced on Friday they have taken a further step towards integration when both boards approved the contracts of a merger deal that would see the two companies combined by 2011.

The Supervisory Boards of Porsche SE and Volkswagen AG announced on Friday they have taken a further step towards integration when both boards approved the contracts of a merger deal that would see the two companies combined by 2011.

VW was the first to announce that its board had agreed to the terms of the merger and its statement was soon followed by a similar one from Porsche. The next step in the process will see VW take a 49.9% stake in Porsche before the end of 2009 in a deal worth €3.9 billion.

November 12, 2009

Porsche SE, the family-controlled sports-car manufacturer, announced it has made a loss of €4.4 billion for the 2008/09 financial year.

Porsche SE, the family-controlled sports-car manufacturer, announced it has made a loss of €4.4 billion for the 2008/09 financial year.
 

October 8, 2009

Norway’s oil fund, which owns $460 million in Volkswagen shares, has accused the Porsche family, who control VW and Porsche, of pushing through a takeover that is in the family’s rather than the company’s interest.

Norway's oil fund, which owns $460 million in Volkswagen shares, has accused the Porsche family, who control VW and Porsche, of pushing through a takeover that is in the family's rather than the company's interest.
 

August 20, 2009

Luxury carmaker Porsche was investigated by German authorities on Thursday in a move related to the company’s purchase of cash settled options in Volkswagen last year.

Luxury carmaker Porsche was investigated by German authorities on Thursday in a move related to the company's purchase of cash settled options in Volkswagen last year.

According to a Porsche statement, officials from the public prosecutor's office in Stuttgart arrived at the company's administrative headquarters with judicial search warrants. The officials then searched the premises, seizing numerous business documents in the process.

August 17, 2009

The complex merger between Porsche and Volkswagen progressed further on Friday when Porsche announced it had secured €7 billion of investment from Qatar Holdings in exchange for a 10% voting stake.

The complex merger between Porsche and Volkswagen progressed further on Friday when Porsche announced it had secured €7 billion of investment from Qatar Holdings in exchange for a 10% voting stake. This is the first time family-owned Porsche has sold holding shares to anyone outside the Porsche dynasty.

August 14, 2009

Volkswagen AG, the family-controlled car manufacturers, announced last night its board has agreed to pay €3.3 billion for a 42% stake in Porsche.

Volkswagen AG, the family-controlled car manufacturers, announced last night its board has agreed to pay €3.3 billion for a 42% stake in Porsche.

Porsche will retain its independence, according to the statement, although Martin Winterkorn, current chairman of VW's board of management, will become the new Porsche CEO. He replaces Michael Macht, who will take up a position in VW management to represent Porsche's interests.

July 30, 2009

The very public dispute between the Porsche family, owners of Porsche, and the Piech family, who control Volkswagen, may soon be coming to an end, in business terms at least.

The very public dispute between the Porsche family, owners of Porsche, and the Piech family, who control Volkswagen, may soon be coming to an end, in business terms at least. An announcement made by Porsche yesterday stated that the two companies are "in advanced talks" over the disposal of the cash settled options used by Porsche to build up a stake in VW. This is the clearest sign yet that a merger is finally coming to fruition.

July 23, 2009

Porsche Automobile Holding SE, the family-controlled luxury carmaker, announced today that non-family CEO Wendelin Wiedeking has resigned as it moves towards a merger with Volkswagen

Porsche Automobile Holding SE, the family-controlled luxury carmaker, announced today that non-family CEO Wendelin Wiedeking has resigned as it moves towards a merger with Volkswagen. Board member Holger P Haerter also leaves the company with immediate effect.

July 20, 2009

The future of the family-controlled luxury carmaker Porsche is to be decided on Thursday at an extraordinary meeting of the company’s shareholders.

The future of the family-controlled luxury carmaker Porsche is to be decided on Thursday at an extraordinary meeting of the company's shareholders.
 
The meeting is expected to finalise Porsche's union with Volkswagen, whose chairman, Ferdinand Piech (pictured), is grandson of founder Ferdinand Porsche. However, the announcement has done little to stop the rumours and speculation surrounding the merger and the Porsche family.
 

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