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Qatar Acquires 17% Stake In Volkswagen, Gains Seat On Porsche Board

 
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Porsche and VW Logos

Porsche and VW Logos

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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]

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Comments (2)
  1. Anyone else concerned that oil magnates now control a significant chunk of one of the largest car companies?
    I guess VW were never high on the list of manufacturers looking into alternatives to gasoline, so it probably won't make much difference. Adds fuel to the conspiracy theories, though.
     
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  2. Hi Guy's,
    Qatar acquired the options for Volkswagen from Porsche this year after mounting debt forced the Stuttgart-based maker of sports cars with a flair for style and high cost to abandon its concerted bid to acquire Volkswagen AG, Europe's biggest automaker by sales.
     
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