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Monday, 22 June 2009

Qatar may acquire bigger than expected Porsche stake

The Qatar Investment Authority could acquire more shares in ailing German sports car maker Porsche than previously thought, German magazine Focus said.

In an advance copy of an article due to be published on 22 June, the magazine referred to details of a paper outlining the future ownership structure that it said Porsche CEO Wendelin Wiedeking had presented to the Porsche and Piech families.

It said there had been a provision for an external investor to hold 29.9%, when so far only a 25% share had been mentioned. However, there was no direct mention of Qatar.

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