2012-07-04
Volkswagen and Porsche create integrated automotive group
- Accelerated integration model permits combination of automotive business with
expected effect as from August 1, 2012
- Porsches automotive business will be contributed in full to the Volkswagen Group
ahead of schedule for around 4.46 billion plus one Volkswagen ordinary share
- Net synergies of approximately 320 million from the accelerated integration will be
split 50:50 between the two companies
- CEO Prof. Dr. Martin Winterkorn: Good for Volkswagen, good for Porsche and
good for Germany as an industrial location