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VW capital increase - VW expects 4 billion euros

dpa
VW capital increase - VW expects 4 billion euros
Subscriptions & booklets

The reference and The company set the issue price at 65 euros per share. On Thursday, VW papers went out of business with a minus of 3.54 percent to 66.57 euros.

Financing the Porsche takeover with fresh money

VW shareholders should be able to subscribe to the new papers from March 31 to April 13. All shares have already been placed in a pre-placement with private shareholders and institutional investors. The previous shareholders can, however, still make use of their subscription rights if they have not yet assigned them to the coordinating banks. Institutional investors then have to stand back in this respect: 27.2 percent of the shares allocated to them are subject to change.

According to earlier statements, the VW Group wants to use the fresh money to gradually take over the sports car manufacturer Finance Porsche . Volkswagen won a long and bitter takeover power struggle with Porsche last year. The Stuttgart-based company is to be integrated into the group as the tenth brand in the course of 2011. At the end of 2009, Volkswagen had bought almost half of Porsche's sports car business for around 3.9 billion euros. According to speculation, Volkswagen could also get the fresh money for it use to forge a long-sought truck alliance with MAN and Scania under the umbrella of the VW Group. In the industry, it is certain that VW wants to increase its 30 percent stake in MAN in order to get control of the Munich-based company. VW had already taken over the Swedish truck manufacturer Scania.

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