Qatar's Third Largest Shareholder

2023 Author: Eric Donovan | [email protected]. Last modified: 2023-08-25 09:36

It is perfect for the Emirates of Qatar to join VW. The investors are thus the third largest shareholder.

The entry of the Emirates of Qatar into VW as the third largest shareholder is perfect. Prime Minister Sheikh Hamad bin Dschassim bin Jaber al-Thani signed the corresponding contract on Friday in Stuttgart, the German press agency learned from Porsche circles. Before that, the investors from Qatar had landed at Stuttgart Airport in the afternoon and then met with the head of the Porsche supervisory board and VW supervisory board member Wolfgang Porsche. The investment company Qatar Holding is to acquire ten percent of the ordinary shares of the holding company Porsche SE from the holdings of the family shareholders, as announced on Friday. Porsche Holding SE is the majority shareholder in Volkswagen.

Long-term commitment

Porsche HR Director Thomas Edig was pleased about the entry of the desert state: "These are predictable, long-term available investors," he told the German press agency dpa. According to reports, the sheikdom wants to acquire 17 percent of the Wolfsburg carmaker for around five billion euros through the VW options from Porsche.

VW CFO Hans Dieter Pötsch had previously stated that the negotiations on the acquisition of VW options, which Porsche holds, by the emirate had "advanced well". The meeting with representatives from Qatar also took part in the Porsche works council, Uwe Hück, and Baden-Württemberg's Prime Minister Günther Oettinger (CDU). (dpa)