Volkswagen’s supervisory board is to discuss plans to acquire the remaining 50.1% of Porsche SE’S sports car business at a meeting on 14 February.
Der Spiegel magazine reported that the German finance ministry has a draft of the deal and also that VW will have to pay EUR3.9bn (US$5.1bn), plus taxes, for the remaining stake. In total, the acquisition will cost a little over EUR8bn (US$10.6bn).
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VW acquired 49.9% of Porsche cars for EUR3.9bn in December 2009 as part of a deal that prevented the likely insolvency of parent Porsche SE.
Last week VW said it was examining a number of options for integrating Porsche into the group.
Earlier report on the merger plan here
