Porsche Family to Acquire More Than 25% of the Car Maker as IPO Nears

Porsche Family To Acquire More Than 25% Of The Car Maker As Ipo Nears - Medium

BERLIN—Volkswagen AG largest shareholder, Porsche Automobil Holding SE said it would acquire 25% plus one additional share of the voting stock in Porsche AG when VW lists the sports-car brand, which could happen by the end of the month, the companies said on Saturday.

VW, Europe’s biggest auto maker by sales, said the companies’ boards would meet on Monday to discuss the private placement of common stock and whether to move forward with an initial public offering of 25% of Porsche’s nonvoting preferred shares. If approved, Porsche shares could begin trading at the end of the month or in early October, VW said.

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This article was written by and originally published on www.wsj.com