Association of porsche and vw threatens delay

The merger of Porsche and Volkswagen planned for the year 2011 threatens to scalify. In extreme cases, it could take several years until Porsche is completely incorporated into the VW Group. In danger, the union of both carmakers but not, emphasized Porsche-SE boss Martin Winterkorn on Tuesday in Stuttgart. "The integrated automotive group is implemented."

Reason for a delay could be the still emerging legal disputes in the US and Germany after the lost supporter shaft with VW, said Winterkorn. Investment funds in the US demand compensation in billions because they suspect false information. For a shift in the original schedule, according to Porsche-SE financial board, Hans Dieter Potsch could also come, because the tax and legal congration is not yet completed. "Our explained goal is and remains the merger," underlined Winterkorn. It is planned to merge Volkswagen AG with the umbrella company Porsche Automobilholding SE.

If this did not succeed, VW has hindered himself to integrate Porsche completely into the Group in other ways. In the case of the trap, Europe’s coarse car manufacturer can also take over the remaining 50.1 percent of the shares in the Porsche sports car company, so far up VW 49.9 percent. But this was only in the period between the 15. November 2012 and 31. January 2015 possible.

The Stuttgart had prevailed in the origionary intention of VW and will now be gradually incorporated into the Group. Because of the lost suppository, Porsche fights legally on numerous fronts. The company had secured the majority of VW in 2008 with difficult shared shares in 2008 and thereby triggered legacy activities. In the US, a group of investment funds has complained against alleged misinformation and market price manipulation against Swabia. It’s about several billion US dollars damages. In mid-January, the court wants to decide whether it allensals. If this is the case, Porsche threatens a year-long legal dispute.

Also in Germany, the prosecutor determines because of suspicion of market manipulation. Should be clarified whether Porsche in the course of the entry into VW investors and actors at the Borse may have been incorrectly informed. First intermediate results are expected at the end of the year. Despite these problems, Porsche wants to start the next step of the merger quickly. On the 30th. November should the Porsche shareholders be agreed at the Annual General Meeting of a Capital House in the first half of 2011. This should bring up to fun billion euros in the cash register. With the money, the debt mountain of Porsche SE should also be reduced. On the holding loads because of the failed VW-to-use still debts of around six billion euros.

The operational cooperation also progressors Porsche and VW. Together, numerous coarse and smaller cooperation projects have been launched, said Winterkorn. "With his high sports car competence, Porsche will play an important role in the group network."With new models and additional series, the Stuttgart should set its sales in the medium term to 150.Increase 000 sports and railaries. In the past financial year 2009/2010, Porsche increased sales by almost nine percent to 81 850 vehicles. Sales reached the highest value of the company’s history with 7.8 billion euros. In the car company, the Stuttgart increased its operating profit significantly to 1.2 billion euros (previous year: 700 million euros). Even with the strong-degraded roof company Porsche SE, the loss shrank to 454 million euros (previous year: 3.6 billion euros). Reason for the loss are loads in the course of the planned merger.

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