Porsche and State of Qatar are still negotiating the deal in which Qatari investors will pay Porsche’s debt and instead acquire a big lump of stakes in the company! Till now, it was 25 percent, but the latest words coming out suggest that it would go up to 29.9 percent.
The investment fund of the Emirate of Qatar could take a stake of as much as 29.9% in sportscar maker Porsche Automobil Holding SE (PAH3.XE), writes magazine Focus in an advance of its Monday edition.
At a meeting of the Porsche and Piech families, who control 100% of Porsche’s voting stock, Chief Executive Wendelin Wiedeking presented a paper outlining the future shareholding structure under which an “external investor” would hold 29.9% of the company, according to the report.
The name of the Emir of Qatar didn’t appear in the paper although talks with his representatives are at an advanced stage, according to the report.
Previous reports had speculated that talks with Qatar involved a 25% stake in Porsche.
Porsche spokesman Albrecht Bamler told Dow Jones Newswires Sunday that the company still declines to comment on any details of the negotiations.
Magazine Web site: www.focus.de