Friday, June 19, 2009

Daimler Set To Purchase Porsche Stake

The latest development in the Porsche-Volkswagen saga comes courtesy of German Manager-Magazin, which notes that Daimler is apparently in advanced negotiations to acquire a stake in the troubled luxury carmaker. It was still unclear what happened with the massive VOW options held by Porsche ahead of expiration today: as the company did not have the money to exercise them earlier, one can only hope that Porsche scrambled enough cash to at least roll the options.

It is only fitting to use Google's bizarro Yoda translator to provide the latest piece of information in this most ridiculous of corporate soap operas.
Negotiations on joining Porsche

The carmaker Daimler negotiates informed manager magazin with Porsche on a career in the sports car manufacturer posted. The talks are at an advanced stage. Daimler would thus indirectly also to participate in Volkswagen.

Hamburg - The automotive group Daimler is considering a stake in the competitor Porsche. The talks would be at an advanced stage, such as has experienced. Daimler CEO Dieter Zetsche and Porsche Chief Executive Wendelin Wiedeking had the potential options of a career already discussed at the end of May, it was in financial circles. The discussion is therefore that Daimler has a capital increase shares of Porsche SE will.

Daimler would thus indirectly also to Europe's biggest carmaker Volkswagen join. Porsche holds 50.8 percent of the voting rights in VW. The group had with the acquisition, however verhoben and is looking urgently for investors. Parallel negotiations Porsche boss Wiedeking also with the Emirate of Qatar on various possibilities of a career.

It is also possible that a package Daimler Porsche VW options decline, experienced from financial circles. About the options Porsche has secured the opportunity to make further approximately 25 percent of Volkswagen's shares at a fixed price to buy. Porsche but lacks the money, the options and make up the shares to pay.

In the past week were leading members of the families Porsche and Piëch taken in Salzburg. The clan includes 100 percent of Porsche shares. Wiedeking asked the families to agree, a portion of the shares to outside investors must. He is not appealed to a particular investor notes. The participants initially refused their consent. The families will be available early next week to a further meeting to come together.
Coming soon to a Park Avenue showroom near you - Porsche C63 AMG GT3. Also, might be a good time to check out those DAIGR CDS. Sphere: Related Content
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