It was the start of a New Year when we first heard that Volkswagen’s plan on purchasing Porsche might finally come to fruition. Seven long months of a drama-filled acquisition later, it can be officially said that Volkswagen has taken full control of Porsche.
Both automakers promise that Porsche will “retain its own identity”, but the acquisition will allow both brands to share their research and technology.
Back in 2008, Porsche announced that it owned 75 percent of Volkswagen’s shares and was going to perform a takeover. But the luxury sports car automaker began piling up the debt that reversed its fortunes. In 2009, Volkswagen performed a merger with Porsche and then ousted then-CEO Wendelin Wiedeking.
But as of now, Volkswagen controls 100 percent of Porsche’s shares, making the Volkswagen Group even more impressive than it already was.
Volkswagen also owns luxury brands like Bentley, Bugatti and Lamborghini.