The new company resulting from the merger of Volkswagen and Porsche will be based in Wolfsburg or Hannover, Spiegel magazine reported.
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This was proposed by Porsche CEO Wendelin Wiedeking to the Porsche and Piech families. According to Focus, they have already approved the headquarters move to Lower Saxony state, Financial Times Deutschland (FTD) said.
Porsche’s head office is currently in Stuttgart while VW is in Wolfsburg.
The decision on relocation should be taken by the supervisory board and at the general annual meeting, a company spokesman told FTD.
Spiegel said Porsche’s owner families would keep a stake of 45% to 55% in the new company while Lower Saxony state would have a shareholding of 21-25%.
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By GlobalDataA Porsche spokesman said merger details were still being worked on and no official announcement would be made until completion.
