It’s official: Porsche is now a wholly owned subsidiary of the Volkswagen Group.
After confirming the takeover's imminence last month, Volkswagen has this week finalised the purchase of the remaining 50.1 percent stake in Porsche, at a cost of €4.46 billion (AU$5.2 billion).
At the time of purchase, the 50.1 percent share was valued at €3.38 billion (AU$3.9 billion), with the further €1.08 billion (AU$1.26 billion) covering adjustment items.
Porsche has been linked to Volkswagen since its inception - the original 356 model sharing componentry with the Beetle - but this official integration of the two entities is expected to spawn operational synergies that had previously not been possible.
Despite these synergies, Volkswagen is keen to point out that Porsche models will not simply become rebadged Volkswagens.
“Porsche will retain its own identity and operational independence, just like all of the other Group brands," Volkswagen CEO Martin Winterkorn said in a statement.
The merger marks a complete turnaround since Porsche’s failed takeover of Volkswagen in 2009.
The affair claimed the management team, and Volkswagen stepped in to save the company from financial oblivion.
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