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Volkswagen Cuts Spending Spree, Qatar Takes 17 Percent Share Photo:
 
 
Mike Stevens | Dec, 22 2009 | 0 Comments

AFTER STRIKING SIGNIFICANT deals with both Porsche and Suzuki this year, Volkswagen is finished with mergers and partnerships for the near future.

Speaking with German magazine WirtschaftsWoche this week, Volkswagen CEO Dr Martin Winterkorn said that despite interest from other carmakers, Europe's biggest carmaker is content for now.

"There are some who knock at our door. Some really want to come under our roof as they see we're on a good path strategically. But we are satisfied with the current line-up. I don't see any need [for new deals]," Dr Winterkorn said.

Earlier this month, Volkswagen announced it had reached an agreement with Suzuki to purchase a 19.9 percent stake in the Japanese carmaker for $2.7 billion.

The deal will give VW access to Suzuki's small car technology and the Indian market, where Suzuki is a major player.

volkswagen-porsche

Only days before the VW/Suzuki announcement, Volkswagen confirmed it had taken a 49.9 percent stake in Porsche, following a long battle that began with Porsche attempting a takeover of Volkswagen.

This week, the Gulf State of Qatar took a 17 percent stake in Volkswagen, a figure agreed on earlier in the year as part of the Volkswagen/Porsche deal.

The stake, which also sees Qatar gain a seat on Porsche's supervisory board, makes the Gulf State Volkswagen's third biggest shareholder after the German state of Lower Saxony and the Porsche & Piech families.

 
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