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Interesting info about Porsche and Volkswagen (VAG)


KMR 968 Turbo

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KMR 968 Turbo

Like many I read about the supposedly failed takeover of Volkswagen by Porsche. However, this information just came to light:

 

One thing though (and you may even know this already): Porsche still owns VAG. It's not the other way around as most believe. Not only do they on 51%; they also control 100% of it's voting rights.

 

The reason for the confusion?..Porsche split the company in two (A Holding company-Porsche SE AG, and the manufacturing side) years ago, when the hedge fund law suits and internecine family bickering were looming to protect themselves.

 

It's the manufacturing division (when split) that actually merged with VAG. However, the Holding company owns 51% of VAG, and controls 100% of the voting rights. They're in charge ultimately. Nonetheless, for some reason, most lazy auto reporters continue report it as VAG controls it. However, when we read any business/finance, reference source or interviews it's clear to see Porsche SE AG controls VAG.

 

Porsche executives will tell you this themselves. Again; as the various Piech, Porsche clans/major shareholders argued during the take over attempt/Potential lawsuits; they allowed the auto/manufacturing division of Porsche to be merged with VAG, providing the Porsche holding company could control VAG, and everyone agreed.

 

This is why even now, Porsche's in control of Sport cars, Sports Sedan Chassis, Hybird (and there's one I'm forgetting; maybe Luxury Sedan Chassis for Bentley, etc.); whatever they seemingly hold dear in the VAG Group to some non Porsche fans chagrin. This is why some believe, Porsche was able to start their own Le mans team as Sister Audi was getting close to Porsche all time records in LMP1, etc..

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