Official: Volkswagen will take 49.9% stake in Porsche

Volkswagen announced today that it will buy 49.9% stake in Porsche, for 3.9 billion euros, compared to 42% as Porsche announced in August, the first step in merging the two automakers, which will create an integrated automotive group.

Volkswagen, the largest car manufacturer in Europe, believes that joint projects carried out by Porsche progressing better than expected, facilitating a more rapid fusion, transmit Reuters quoted by Mediafax.

Volkswagen delivers components for about one third of the cars produced by Porsche, including bodywork models Cayenne and Panamera four-door, and the group seeks to expand cooperation between the two companies in this segment.

Porsche Holding announced in August that will sell 42% stake in Porsche sports car manufacturer to Volkswagen for 3.3 billion euros.

Porsche is found in a position to call for help after Volkswagen's unsuccessful attempt to get control of Volkswagen, for access to key components and technologies necessary by tightening emission control regulations.

Sports car manufacturer has taken too much debt, however, about 10 billion euros to pay the majority of 51% of VW shares and to invest in a portfolio of derivatives that would have controlled about 20 % of titles, and now needs an investor willing to take over the company.

Source: http://www.volkswagen.com/

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