Home / Auto News / News article: Porsche Skips Taxes on 4.5 Billion Euro Transaction... Legally - AutoGuide.com News
 |  Jun 13 2012, 3:32 PM

If you’re wondering how to sell the controlling stake in a major car company for 4.5 billion euros and leave the tax collector hanging without legal worry, just ask Porsche.

When Volkswagen AG swooped in to save a financially floundering Porsche SE in 2009, it took on just under half of the company for 3.9 billion euros. Until very recently, the remaining takeover was an on-again off-again story, but thanks so clever financing, the transaction will be complete ahead of schedule without cutting the Stuttgart tax office a slice.

The financial magicians haven’t revealed their trick just yet, but it sounds like skating around the system was possible because Porsche only accepted a single voting share in Volkswagen, allowing the company to label the action a restructuring.

[Source: WirtschaftsWoche]