Porsche is a New Owner of Suzuki's stake in VW

Porsche Automobil Holding SE has bought a stake of Suzuki in VW. 1.5% of VW AG's ordinary shares now belong to Porsche.

All the details and terms of the deal have not been announced yet since it was an off-market transaction. The automaker with a piece of stake says that the purchase of 4.397M ordinary shares proves a great commitment to its main investment. Besides, it stresses the anchor position of the stake holder in the manufacturer based in Wolfsburg.

Porsche SE continued saying that the transaction’s ordinary share capital of VW will go up to 52.2%. Meanwhile the stake of subscribed capital will be increased by 32.4%.