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Mexican brand of car VW Porsche gives ultimatum to accept purchase

International Current

VW suggests that company acquired 49% of Porsche Holding, worth three thousand to four thousand million euros.



(Agencies) -. The German car manufacturer Volkswagen (VW ) has given an ultimatum the Porsche company to decide to the Monday if accepts his offer of purchase as weekly reported Thursday "Der Spiegel ."

According to the publication , the German giant proposed that the company acquires 49% the of Porsche Holding for between three thousand and four billion euros .

The financial offer has been agreed by senior management of VW and the state government of Lower Saxony , second largest shareholder in VW and entitled to veto.

debts Porsche reach nine billion euros and not to accept the offer of VW, in September should return to the same company a credit worth 700 billion that was granted in March, segúnafima "Der Spiegel ."

By creating this joint venture, VW and Porsche would hold 40% of its shares , while federal state of Lower Saxony 20% would have the . The Qatari emirate would owner 15% and the remaining 5% would be in the hands of a state fund . The

of merger negotiations between the two companies have suffered its ups and downs , especially after VW announced in May that interrupted to know exactly with the financial situation Porsche.

Currently, Porsche has participation of 51% in Volkswagen . Meanwhile, problems of liquidity and difficulty accessing new loans because of the crisis complicated their financial situation , however in May, Porsche made public their interest of merge with VW . Original

Note: VW Porsche gives ultimatum to accept purchase

Source: Altonivel.com.mx
www.altonivel.com.mx

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