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Volkswagen reportedly wants to turn Porsche into a publicly traded company.

If it does happen who would be interested in buying Porsche stock?


This was rumored last week, after, last October, Volkswagen saying that it was pumping the brakes on the plan. It’s unclear what has changed (other than Tesla’s continued dominance) in the stock market, too. This would be directly out of the Tesla playbook, which is going public to fund a big EV push.

From The Wall Street Journal:

The German auto maker said it had worked out a framework agreement with Porsche SE that still requires formal approval of both companies and their supervisory boards. VW shares jumped nearly 9% on the news as trading opened on the Frankfurt stock exchange, and were trading at around €188.14 by midmorning, equivalent to $212.81.

[...]

The announcement comes after more than a year of speculation and intense discussion among VW core shareholders that include Porsche Automobil Holding SE, the fund owned by the Porsche and Piëch families, the state of Lower Saxony, which controls around 20% of VW and has special rights under Germany’s “VW Law,” and the influential IG Metall labor union which holds half the seats on VW’s board of directors.

Porsche SE confirmed the talks and said it could purchase Porsche AG shares in the event of an IPO. People close to the family said as recently as December that it was considering selling some of its 53% stake in VW to take a large share of Porsche, which the family ceded to VW after Porsche’s failed attempt to take over VW in 2008.


The move would also be reminiscent of what Ferrari did when it went public. From Bloomberg:

Porsche Chief Financial Officer Lutz Meschke first raised the benefits of a potential IPO in 2018, saying such a move could unlock value and replicate Ferrari NV’s successful share sale years earlier. The deliberations didn’t gain support from VW at the time.
But the prospect has remained part of conversations around Porsche and officials have openly flirted with the idea that would give one of the world’s most coveted car brands more independence.
“I think Porsche could be an interesting part for thinking about an IPO,” Porsche CEO Oliver Blume said during a briefing with U.S. reporters last year, cautioning that a final decision won’t be his to make. “We have to hand it to Volkswagen and they have nothing decided.”
Porsche has been sort of an odd duck in the VW universe after it got absorbed in a very strange failed takeover attempt in the 2000s, and continuing on through the current strangeness around VW sending Bugatti to Rimac via Porsche.
 

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Volkswagen reportedly wants to turn Porsche into a publicly traded company.

If it does happen who would be interested in buying Porsche stock?


This was rumored last week, after, last October, Volkswagen saying that it was pumping the brakes on the plan. It’s unclear what has changed (other than Tesla’s continued dominance) in the stock market, too. This would be directly out of the Tesla playbook, which is going public to fund a big EV push.

From The Wall Street Journal:

The German auto maker said it had worked out a framework agreement with Porsche SE that still requires formal approval of both companies and their supervisory boards. VW shares jumped nearly 9% on the news as trading opened on the Frankfurt stock exchange, and were trading at around €188.14 by midmorning, equivalent to $212.81.

[...]

The announcement comes after more than a year of speculation and intense discussion among VW core shareholders that include Porsche Automobil Holding SE, the fund owned by the Porsche and Piëch families, the state of Lower Saxony, which controls around 20% of VW and has special rights under Germany’s “VW Law,” and the influential IG Metall labor union which holds half the seats on VW’s board of directors.

Porsche SE confirmed the talks and said it could purchase Porsche AG shares in the event of an IPO. People close to the family said as recently as December that it was considering selling some of its 53% stake in VW to take a large share of Porsche, which the family ceded to VW after Porsche’s failed attempt to take over VW in 2008.


The move would also be reminiscent of what Ferrari did when it went public. From Bloomberg:


Porsche has been sort of an odd duck in the VW universe after it got absorbed in a very strange failed takeover attempt in the 2000s, and continuing on through the current strangeness around VW sending Bugatti to Rimac via Porsche.
I would be a buyer.
 
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