QUOTE(ClayPerrine @ Nov 26 2019, 11:07 AM)
QUOTE(Superhawk996 @ Nov 25 2019, 06:43 PM)
Anyone remember when Porsche tried to buy VW and then had it backfire on them?
And VW turned the tables and bought Porsche.....
Of course it is not a simple as VW bought Porsche because the majority owner of VW is Porsche Holdings SE. VW has control of Porsche AG which makes the cars but Porsche Holdings SE, a holding company for Porsche family, is the majority share holder and the majority voting rights in VW AG.
Jim
From Wikipedia:
Porsche SE was created in June 2007 by renaming the old Dr. Ing. h.c. F. Porsche AG, and became a holding company for the families' stake in Porsche Zwischenholding GmbH (50.1%) (which in turn held 100% of the old Porsche AG) and currently is the major shareholder in Volkswagen AG (31.3%) and holds the majority voting rights (53.1%).[8][9] At the same time, the new Dr. Ing. h.c. F. Porsche AG (Porsche AG) was created for the car manufacturing business.
In August 2009, Porsche SE and Volkswagen AG reached an agreement that the car manufacturing operations of the two companies would merge in 2011, to form an "Integrated Automotive Group".[10][11] The management of Volkswagen AG agreed to 50.7% of Volkswagen AG being controlled by Porsche SE in return for Volkswagen AG management taking Porsche SE management positions (in order for Volkswagen management to remain in control), and for Volkswagen AG acquiring ownership of Porsche AG.
As of 2019, the 31.3% stake in Volkswagen AG is the predominant investment by Porsche SE, and Volkswagen AG in turn controls brands and companies such as Volkswagen, Audi, SEAT, Škoda, Bentley, Bugatti, Lamborghini, Porsche AG, Ducati, VW Commercial Vehicles, Scania, MAN, as well as Volkswagen Financial Services.[12]
Dr. Ing. h.c. F. Porsche AG (which stands for Doktor Ingenieur honoris causa Ferdinand Porsche Aktiengesellschaft), as a 100% subsidiary of Volkswagen AG, is responsible for the actual production and manufacture of the Porsche automobile line.