Porsche-Piech familes could give up control of carmaker
June 10, 2009 by Alborz Fallah
With Porsche in deep financial trouble, talks continue with the Gulf state of Qatar to help the German sportcar manufacturer restore its account balance. Interestingly if the deal goes ahead as planned, some speculate that the Porsche and Piech families could give up full control over their business.
As it has stood for many years, investors could never buy enough shares to have a say in the operations of company, which now has a majority stake in Volkswagen, but that may soon change.
All other interested investors have been put aside and a Porsche spokesman said “There are only talks with Qatar now”. The company will sell a stake in its automobile holding either via a capital increase of unlisted common shares or by divesting its options for Volkswagen shares.
Some media organisations have reported that Qatar could take up to 25 percent in Porsche’s holding company for around 4.5 billion euros ($7.5 billion). Although both sides of the deal have declined to comment, many expect the parties to reach an agreement within a few weeks.
The families who have long controlled Porsche are also in charge of Salzburg-based Porsche Holding, Europe’s largest dealership group.
The Arabs are not new to buying stakes in German manufacturers, earlier this year Abu Dhabi’s IPIC sovereign wealth fund bought a 9.1 percent stake in Daimler (Mercedes-Benz) for almost 2 billion euros.
What does the future for Porsche hold?
Print it: 
A sad day for Porsche. But then how stupid were they to put themselves into debt trying to buy a controlling interest in VW?
Not too sad for me as i am not particular fan of boring porsche’s but i do like the new boxster though, but i agree with u eh179, only ones to blame is themselves for over stepping their financial capabilities in a recession like this. Still porsche will find thier way out of it, they wouldnt date let this company go the way of gm…
German government should buy em out and own Porsche.
Why give controlling rights to countries like these, they have never created a thing in their lives.
With Porsche is deep financial trouble, talks continue with the Gulf state of Qatar to help the German sportcar manufacturer restore its account balance.
umm ‘in’ – reward for who spots where.
It is the Porsche family’s right to own VW so the German government should help them out. And once again we have a case of Arabs with too much money and no class or brains. Here is a tip boys, create your own ideas instead of just trying to throw your oil money round buying companies from countries you wish you were from.
I can’t wait for the day we don’t need oil, then these spoiled brats can go back to beheading themselves.
To give up controlling rights is a big deal, my Germany how things have changed since your glorious years of liberalism in the 30’s.
What happened to you Germany used to be a country I was proud of……..now your just a country that apologizes all the time and begs for money. You disgust me!