3/27/2009

Porsche loans by 10 billion euros to acquire the public shares

German luxury sports car maker Porsche said on the 25th to the outside world, the company has been provided by 15 banks 10 billion euros of loans to acquire shares in Volkswagen.
10 billion euros of the loan will be 12 months between the completion of two parts, one of next year, will receive 6.7 billion euros.
Porsche said that in the next few weeks the size of loans may also be expanded to 12.5 billion euros.
In January this year, Porsche has announced that more than half of Volkswagen shares, thus becoming the largest shareholder of the latter absolute. The company's goal this year has more than 75% of public shares, then their decision-making power.