Porsche Covers Regulatory Bases: Now Owns 31% of Volkswagen

Porsche who was already deeply invested in Volkswagen announced that they are upping their ownership stake in VW.

Porsche's primary concern was protecting their investment. By acquiring 31% of Volkswagen they have now shielded VW from the possibility of a foreign takeover. Porsche's now 31% equity stake combined with German state ownership's 20% guarantees Volkswagen will stay German-owned.

Volkswagen is clearly the larger of the two automakers, yet the leaner, racier Porsche unit returns a higher profit.

In other news: Magna considered front-runner for Chrysler stake.

"We now believe there is increased likelihood that MGA could take a direct minority ownership stake in Chrysler"

Onex likely to be an integral part of a Magna - Chrysler deal as well.

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Porsche Covers Regulatory Bases: Now Owns 31% of Volkswagen

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