ArabianBusiness.com - Middle East Business News
Monday, 23 November 2009 18:17 UAE time

YOUR DIRECTORY /

| Share |

Qatar gets 10% voting stake in Porsche SE

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Friday, 04 September 2009
STAKE SHARE: Qatar will hold the stake via a series of investment arms. (ITP Images)
STAKE SHARE: Qatar will hold the stake via a series of investment arms. (ITP Images)

The Gulf state of Qatar has taken a 10 percent voting stake in Porsche Automobil Holding SE as agreed, the German automotive group said on Wednesday.

It gave no financial terms for the sale, which was announced last month and gives outsiders a say at the family-owned company for the first time.

Qatar will hold the stake via a series of investment arms. The deal is part of a broader accord that will see Porsche eventually merge with Volkswagen, Europe's biggest carmaker.

Porsche owns just over half of VW, but its attempt to seize full control backfired as its debt mounted just as car markets collapsed. (Reuters)

advertisement

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST TRANSPORTATION

  1. Abu Dhabi Int’l Airport records 7% growth in Oct
  2. Qatar to sign $25bn mega railway deal on Sunday - report
  3. Somali pirates free UAE-owned cargo ship
  4. Drop in Saudi road deaths
  5. EXCLUSIVE: Boeing chairman sees more job cuts in 2010

TOP MIDDLE EAST BUSINESS STORIES

  1. Accor opening two new ibis hotels in region
  2. First UAE arthouse cinema opens in Dubai Mall
  3. Abraaj Capital issue is fully subscribed
  4. Doubts over pace of Mideast private equity recovery
  5. ENOC will not increase Dragon Oil bid

ALSO IN MIDDLE EAST TRANSPORTATION

  1. Fewer drivers killed on Dubai roads last year
  2. Total travel solution
  3. Kuwait to allocate Iran port to boost trade
  4. Qatar committed to cleaner aviation fuels
  5. Chemical reaction

LATEST MIDDLE EAST BUSINESS NEWS

  1. Travel & Hospitality: Accor opening two new ibis hotels in region
  2. Banking & Finance: Abraaj Capital issue is fully subscribed
  3. Construction & Industry: Gulf has $1.35tn worth of building projects underway
  4. Politics & Economics: Gulf nations to see solid growth in 2010
  5. Culture & Society: First UAE arthouse cinema opens in Dubai Mall

SHARE PRICE CHECK

RELATED STORIES

Porsche, Germany
| 17 stories
  1. German state eyes control in VW-Porsche - report
    1 Aug '09 | News
  2. Porsche axes CEO, sets stage for VW merger
    23 Jul '09 | News

RELATED LINKS

  1. Porsche, Germany»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Porsche, Germany

  2. Transportation


Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. Dubai developers see negative press reports decline 07
    23 Nov ' 09 at 15:51
    Of course there is a lack of bad press. There are no new projects commencing, no projects getting handed over, no people buying, loads...   More  »
  2. Why I h8 junk txts 05
    23 Nov ' 09 at 17:06
    Putting your phone on silent is the obvious solution (although irritating - can't they just stop sending the texts?!) But the problem...   More  »
  3. Dubai population grows 1.9% in Q2 05
    23 Nov ' 09 at 13:24
    Fact: I have left the country and so has another colleague of mine. Some others are in the process of leaving. Moreover, there are lots...   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY