Want to invest in Porsche?
11-30-2010, 11:16 AM
#1
Rennlist Member
Thread Starter
Want to invest in Porsche?
BERLIN - Porsche shareholders are poised to agree on a euro5 billion (US$6.5 billion) stock sale aimed at raising funds for a merger between the sportscar manufacturer and Germany's largest automaker Volkswagen AG.
Spokesmen for two leading groups of Porsche shareholders that gathered Tuesday in Stuttgart said their members would agree to the move. It is aimed at ridding Porsche of debts accumulated in its own failed 2009 attempt to take over Volkswagen.
Porsche's chief financial officer says the action should be completed by the end of August 2011. A pending lawsuit in the U.S. and possible legal proceedings in Germany could delay it.
Porsche earned euro7.8 billion (US$10.1 billion) in revenue for the year ending July 31 and sold 82,000 cars.
Spokesmen for two leading groups of Porsche shareholders that gathered Tuesday in Stuttgart said their members would agree to the move. It is aimed at ridding Porsche of debts accumulated in its own failed 2009 attempt to take over Volkswagen.
Porsche's chief financial officer says the action should be completed by the end of August 2011. A pending lawsuit in the U.S. and possible legal proceedings in Germany could delay it.
Porsche earned euro7.8 billion (US$10.1 billion) in revenue for the year ending July 31 and sold 82,000 cars.
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11-30-2010, 04:18 PM
#9
Instructor
12-01-2010, 11:05 PM
#13
Drifting
Hard to believe average cost per vehicle is over $123K. Or maybe we haven't been told the hottest selling Euro model was the '10 Carrera GT @ 550K Euros.
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Check my post count!
12-02-2010, 10:33 AM
#14
Rennlist Member
