Intensive negotiations with Volkswagen concluded successfully
Stuttgart. The Supervisory Board of Porsche Automobil Holding SE has given its approval for the contracts in today’s meeting, for the regulation of implementing the foundation agreement for the merger of the company with Volkswagen AG. The Executive Board of the Wolfsburg automobile company had already approved of the contracts in its meeting.
In the contracts of implementation, the organizational, structural and legal details of the consolidation of both companies are provided with binding regulations. The closing of these represents further important steps on the way towards the integrated automobile group, which should be realized during the course of the year 2011. The next milestone will be the planned 49.9 percent participation of Volkswagen in the Porsche AG by the end of 2009.