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AUTOMAKERS' NEWS * Europe
* Germany - VW, Porsche to finally merge
(Matthias Rietschel / Associated Press: A logo of a car of German car maker Volkswagen VW is reflected in the varnish of a Porsche sports car in Dresden)
Wolfsburg,Germany -The Detroit News (USA), by Christine Tierney -July 6, 2012: -- Europe's largest carmaker, Volkswagen AG, plans to complete its merger with legendary sports car manufacturer Porsche this month in a deal that puts the founding Porsche family in control of both companies... The merger, expected to be completed by Aug. 1, concludes a drawn-out takeover fight that began five years ago when tiny Porsche set its sights on VW... Porsche is joining VW's large stable of mass-market as well as illustrious brands, including Audi and Lamborghini... Wolfsburg-based Volkswagen, one of the world's three biggest automakers, will pay the Porsche SE holding company 4.46 billion euros, or nearly $6 billion, plus one ordinary VW share to acquire the 50.1 percent in Porsche's auto-making business that it doesn't own...Labels: automakers news worldwide
posted by Unknown @ 6:33 PM
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