Volkswagen: Qatar acquires 17% stake

Sunday, December 27, 2009

Volkswagen: Qatar acquires 17% stake

Qatar has acquired a 17% stake of the Volkswagen group.

Qatar has acquired a 17 per cent voting stake in Germany's Volkswagen AG and it will also get a seat on the supervisory board of subsidiary Porsche.

Qatar has acquired a 17 per cent voting stake in Germany's Volkswagen AG and it will also get a seat on the supervisory board of subsidiary Porsche, according to a company statement.

Until recently, the Gulf state had only had a stake of just below 7 per cent, but it used options - acquired from Porsche months ago - to build up the holding.

The announcement comes as little surprise, after the Qatar investors announced earlier in August that they intended to acquire a 17 per cent stake in Volkswagen, becoming the German investment authority's No.3 shareholder, after the state of Lower Saxony, where VW is located, and the Porsche and Piech families, which control Porsche SE.