By Syndicated Content
By Christoph Steitz and Jan Schwartz
FRANKFURT (Reuters) â The Porsche and Piech families, who control Volkswagenâs largest shareholder, are prepared to take a direct stake in Porsche AG should the luxury carmaker be separately listed, two people familiar with the matter said.
Such a move would loosen the familiesâ grip on Europeâs largest carmaker Volkswagen, in favour of direct ownership of the iconic sports car brand, founded by their ancestor Ferdinand Porsche, which dates back to 1931.
Speculation about a listing of the unit earlier this year included estimates of a standalone valuation of Porsche AG ranging from 45 billion to 90 billion euros ($55 billion-$110 billion), compared with 135 billion for the Volkswagen group.
Porsche, Piech families may take direct stake in possible Porsche IPO, report says
Porsche, Piech families may take direct stake in possible Porsche IPO, report says
Sports-car brand could be valued at $55 billion to $110 billion
Reuters
Production at Porsche s factory in Zuffenhausen, Germany.
FRANKFURT The Porsche and Piech families are prepared to take a direct stake in Volkswagen Group s Porsche brand if the sports-car unit is separately listed, two people familiar with the matter said.
Such a move would loosen the families grip on VW Group in favor of direct ownership of the Porsche brand, which dates back to 1931 and was founded by Ferdinand Porsche.
by Tyler Durden
Tuesday, May 04, 2021 - 02:10 PM
In a world flooded with liquidity, where the backlog to get a new supercar is sometimes measured in years, one would think that ultra luxury carmakers would be soaring. Alas, that s not the case for Ferrari (RACE) today, whose stock plunged more than 8% in Milan trading,
the biggest drop since March 2020, making it the worst performer on the FTSE MIB and the Stoxx 600 Automobiles & Parts Index
after the supercar maker delayed by a year longstanding profit targets for 2022 initially set before the Covid-19 pandemic, adding to a roster of challenges for the carmaker that has been without a CEO for almost five months.
(Bloomberg) European equities rose on Monday, as investors weighed robust earnings reports and a brightening economic outlook against the risks of rising inflation, supply disruptions, and higher taxes. The U.K. market was closed for a public holiday. The Stoxx Europe 600 Index climbed 0.6%, moving closer to historic highs reached last month. Carmakers led advances, despite continuing warnings about production disruptions due to a shortage of chips. Ferrari NV gained 2.6% amid upbeat estimates for its earnings report due Tuesday. Renewables underperformed after Citigroup Inc. said in a note that Siemens Gamesa Renewable Energy SA’s 2021 guidance was disappointing. Vestas Wind Systems A/S was among the biggest drags on the Stoxx 600 Index, dropping 4.3%. The Stoxx 600 Index has climbed more than 10% this year, buoyed by expectations of rapid economic recovery, as vaccinations against the coronavirus progress while fiscal and monetary policy across the region remains loose. While muc
European stocks edge higher on robust earnings, recovery hopes Sentiment remains positive on hopes of quick economic rebound
about 9 hours ago Updated: about 3 hours ago
Photograph: iStock
European equities rose on Monday, as investors weighed robust earnings reports and a brightening economic outlook against the risks of rising inflation and higher taxes.
The UK market is closed for a public holiday. The Stoxx Europe 600 Index climbed 0.6 per cent as of 4.10pm CET, moving closer to historic highs reached last month. Carmakers led advances, despite continuing warnings about production disruptions due to a shortage of chips.
Ferrari NV gained 2.2 per cent amid upbeat estimates for its earnings report due Tuesday, while Porsche Automobil Holding rose 1.6 per cent.