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Thursday, June 4, 2009

Hot News: Qatar May Buy Porsche Stake


    Qatar is still considering taking a stake in Porsche, according to the Gulf state's finance minister.
    Porsche is currently struggling to service its £7.8 billion of debt, which it ran up in a failed bid to gain a majority stake in rival Volkswagen. Recent reports had suggested that VW would now absorb Porsche in a merger deal.
    "Our government is interested in acquiring a stake in Porsche. When and how much, I don't know. We are always looking for opportunities in the car market," Youssef Kamal told a conference in Russia.
    Qatar's prime minister had previously said Qatar was considering taking a stake in a German car company, and specifically named Porsche as a potential target.
    Abu Dhabi's state-controlled IPIC company recently purchased a 9.1 per cent stake in Daimler for almost two billion Euros (£1.7 billion), via exchange-listed investment vehicle Aabar.
    Thanks to: Autocar
    Source URL: https://carrevieeeew.blogspot.com/2009/06/hot-news-qatar-may-buy-porsche-stake.html
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