Porsche debt a massive 14 billion euros
July 23, 2009 by David Twomey
Filed under Car News, Industry, Porsche, Volkswagen
Porsche Automobil Holding SE, the administrative company of the Porsche business, amassed 14 billion euros (US$19.75 billion) in debt in its failed attempt to take full control of Volkswagen, Germany’s Bild newspaper has reported, citing an informed source.
Sources told Reuters Newsagency recently that Porsche’s debt was “clearly” higher than the10 billion euros that had so [...]
VW supports Qatar loan to Porsche
June 9, 2009 by David Twomey
Filed under Car News, Industry, Porsche, Volkswagen
Volkswagen would support the Gulf emirate of Qatar taking a substantial voting stake in either its debt-laden parent Porsche or in VW itself, Europe’s largest carmaker has said.
“In principle we view this positively since it would accelerate the process to form an integrated group with 10 brands,” a VW spokesman said, using phrasing approved by [...]
Ford to reduce $16 billion in debt
March 5, 2009 by Alborz Fallah
Filed under Australian Car Industry News, Car Advice, Ford, GM
Ford Motor Company is planning to reduce its debt by more than $16 billion (US$10.4 billion) in the near future. The plan will see the swapping of company stock and cash for existing debt.
The blue oval’s debt-reduction plans are in line with the US government’s contractual agreement with General Motors and Chrysler to hand out [...]
