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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Volkswagen will sell shares to fund Porsche takeover

Posted on 24 March 2010

From Businessweek.com: Volkswagen AG will sell new shares in a rights issue valued at as much as 4.7 billion euros ($6.4 billion) to help finance the takeover of Porsche SE’s auto-making unit. Qatar Holding, part of the country’s sovereign wealth fund, said it remains a long-term investor in Volkswagen.

VW will offer as many as 65 million preferred shares, with the sale price, subscription ratio and offer volume to be decided by March 26, the company said in a statement today……………………………..Full Article: Source


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