Volkswagen Group may pay for the remaining stake in Porsche at 600 million Euros more than planned initially. German auto giant, plans to buy out the remaining 50.1% of the shares in Porsche already this year. As a result, during the second half of the sportscar manufacturer Volkswagen Group would pay 4.5 billion Euros instead of the parties originally 3.9 billion Euros.
Conglomerate will have to fork out because he wants to quickly integrate business of Porsche's, and this subsequently will save up to 700 million Euros a year, writes the Financial Times Deutschland.
As we have informed, in 2009, Porsche Automobil Holding SE and Volkswagen have begun the process of integrating automotive assets to the new group. Was formed the intermediate holding company Porsche Zwischenholding GmbH, in which Volkswagen was 49.9% stake. In accordance with the basic agreement between companies completely merged was due more to the year 2011.
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