18.06.2013 - Porsche family buys back stake from Qatar fund
Descendants of German automobile entrepreneur Ferdinand Porsche have bought back a 10 per cent stake in their holding company from Qatarís sovereign wealth fund. Carmaker Porsche confirmed the transaction today but didnít 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 stateís 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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