Porsche and VW Logos
Having recently acquired a 10% stake in Porsche, Qatar, through the Qatar Investment Group, has now acquired a 17% stake in Volkswagen, which itself is now the parent company of Porsche.
This means that Qatar not only gets the stake in Volkswagen but it also a seat on the supervisory board of Porsche.
Qatar’s stake in Volkswagen was just nudging the 7% mark but using options gained during its acquisition of the 10% Porsche stake, the Gulf country managed to increase its share in the German auto giant as well.
Qatar is now the third biggest shareholder of Volkswagen after the German state of Lower Saxony and the Porsche/Piech families.
[Drive]
---------------
High Gear Media has partnered with Tesla Motors on a new writing contest where YOU can win a tour and road test of the 2010 Tesla Roadster Sport. You can submit as many articles as you like and enter multiple times. Enter now!
