Volkswagen Group CEO Martin Winterkorn has admitted that VW Group’s merger with Porsche AG may not be completed next year as planned.

Winterkorn said the merger may be delayed due to lawsuits brought by pension funds and tax issues.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

“We cannot rule out that the proceedings may take a while yet until a final ruling is handed down,” Winterkorn said at a Porsche press conference in Stuttgart.

But he insisted that the merger to create the ‘integrated automotive group’ will happen.

As part of the deal that will see Porsche’s holding group also own shares in VW, Porsche shareholders will be asked to approve a capital increase worth five billion euros in late November.

Porsche faces legal action from US investment funds which accuse the company of having manipulated the stock market in 2008 and hiding its intentions when it attempted to take over VW.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Winterkorn said in a statement that Porsche AG and the Volkswagen group had chosen the right time to join forces: “With its outstanding expertise in the field of sports cars, Porsche will play an important role in the integrated group. Porsche will remain true to itself and its brand values,” stressed Winterkorn. This was guaranteed by the cooperation with the Volkswagen group and with its development and production resources, added Winterkorn.

He also said that joint project teams had launched a whole range of cooperation projects – in areas ranging from development to production, and from procurement to sales – and were now making ‘great progress towards realising the intended synergies’. “Porsche and the Volkswagen Group’s brands are joining forces to become the number 1,” Winterkorn said.