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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Porsche family buys back stake from Qatar fund

Posted on 18 June 2013

Descendants of German automobile entrepreneur Ferdinand Porsche have bought back a 10 per cent stake in their holding company from Qatar’s sovereign wealth fund. Carmaker Porsche confirmed the transaction today but didn’t reveal the sales price.
The Porsche and Piech families are now again the sole shareholders of Porsche Automobil Holding SE. That company is the largest single shareholder of Volkswagen AG, which in turn manufactures the Porsche luxury cars. Qatar Holding, the investment arm of the Gulf state’s sovereign wealth fund, had bought the stake four years ago when a Porsche takeover bid for much-larger Volkswagen collapsed amid overly high debt………………………………………..Full Article: Source


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