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wolfgang porsche

February 24, 2011

Family-controlled German carmakers, Porsche and Volkswagen, announced on 23 February that their planned merger may not happen this year due to pending legal issues.

Family-controlled German carmakers, Porsche and Volkswagen, announced on 23 February that their planned merger may not happen this year due to pending legal issues.

The two carmakers had previously revealed plans to merge by the second half of this year, but unresolved legal issues relating to a failed takeover of VW by Porsche in 2008 are likely to delay the merger.

April 19, 2010

Porsche AG, the family-controlled luxury carmaker, has unanimously re-elected Dr Wolfgang Porsche as chairman of the supervisory board, but said goodbye to another family member.

Porsche AG, the family-controlled luxury carmaker, has unanimously re-elected Dr Wolfgang Porsche as chairman of the supervisory board, but said goodbye to another family member.

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 21, 2009

Volkswagen, the family-controlled car manufacturer, announced last night it has upped its stake in family-owned Porsche.

Volkswagen, the family-controlled car manufacturer, announced last night it has upped its stake in family-owned Porsche.
 

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.

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