Porsche Automobil Holding SE - €PAH3d



In 2012 VW won their epic 4 year tussle with the then independent Dr.-Ing. h.c. F. Porsche AG buying the 51.1% they didn’t already own to subsume the sports car maker. The drama that involved each company trying to buy each other looks to be coming to an end with an IPO for the Porsche brand at an advanced stage, with pricing rumoured to be over €50bn.

This will be a complex deal given the history and the fact that the descendants of the Porsche founder, Ferdinand Porsche, have a controlling stake in VW through Porsche SE (PAH3d)

How sad is it to you put your honoris causa Dr title into your company’s name! :joy:

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Volkswagen-owned Porsche will be able to go into more detail in coming weeks on what its agreement with Volkswagen for the structure of a partial listing will look like

Seems this is to happen this year still, wondering when.

Read they’re trying to complete by next month. I did a conservative DCF analysis and got an equity value of €98bn, which is some way above VW’s target. But then again that doesn’t take into account current market conditions, the voting structure, amount of debt VW load etc.

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