VW To Buy Porsche's Austrian Trading Unit For $4.5B

Law360, New York (November 10, 2010, 1:01 PM EST) -- German automobile giant Volkswagen AG revealed Wednesday that it has agreed to fork over $4.5 billion to buy the Austrian automobile trading business of Porsche SE.

The founding Porsche and Piech family shareholders have exercised a put option to sell the operating business of Porsche Holding Salzburg to Volkswagen, Europe’s largest carmaker, Volkswagen said in a statement.

The transfer of the automobile trade company will take place at a fixed price of $4.5 billion “probably during the first half of 2011 but no later than Sept....
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