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Porsche Supervisory Board approves increase of stake in Volkswagen - Company to become a European stock corporationResponse to the challenges of the international automobile market
Stuttgart. At its extraordinary meeting held today, the Supervisory Board of
It is proposed that only the minimum price prescribed by law will be offered as part of the mandatory offer. This is expected to amount to 100.92 Euro per VW ordinary share. For the VW preference shares the price will be the minimum price which will be calculated by the Federal Agency for Financial Services Supervision (BaFin).
Part of the background to the increase of the stake to over 30 per cent is the expected fall of the VW Act. As a result of the opinion delivered on 13 February 2007 by the Advocate General of the European Court of Justice, in which he emphasizes the incompatibility with EU law of the limitations on voting rights contained in this Act,
In addition, a holding structure is to be implemented the principal purpose of which is to separate operational business activities from holding activities. To this end, it is proposed to hive down the operational business of
It is also proposed that the company, which will then be operating as a holding company, will be converted into a European stock corporation – “Societas Europaea (SE)”. An SE is a modern and internationally oriented corporate form which, inter alia, enables the size of the Supervisory Board (twelve members), which has proved its worth in the past, to be maintained for the future. The operational company will continue to have its seat in Stuttgart, and the new holding company will also be located in the Greater Stuttgart area. The decisions on the hive-down, the conversion and the domination and profit transfer agreement are to be taken at an Extraordinary General Meeting, which is expected to take place in June.
In the meantime, further joint projects have been initiated: a hybrid engine which is to come on the market in the course of the current decade, a joint electronics platform, a cooperation with regard to the building of the body shell for the new four-door Gran
The Managing Board of the sports car manufacturer regards the proposed increase of the stake in VW group as a logical step to enable it to meet the global challenges in the highly competitive automobile market even better. It is firmly convinced that the technical and strategic collaboration between
The automobile industry plays a key role in Germany: it creates a large part of the wealth and it must, more than ever, position itself for the future.
GO
3/24/2007
Further information and pictures for journalists and media representatives can be found on the
Estes dados foram determinados de acordo com os procedimentos de medição da norma Euro 5 (715/2007/CE e 692/2008/CE), no Novo Ciclo Europeu de Condução (NEDC) e com os equipamentos de série. Os dados não se referem a um veículo individual e não são parte do produto oferecido, servindo apenas para efeitos de comparação entre os diferentes tipos de veículos. Para obter informação adicional sobre os veículos individuais, consulte o seu Centro Oficial
Os dados de consumo foram obtidos com base no equipamento de série. Os equipamentos opcionais e ou especiais poderão afectar o consumo e as prestações.
Estão disponíveis informações mais detalhadas sobre o consumo de combustível e as respectivas emissões de CO2 dos novos veículos no sítio da ACAP.