Porsche to sell out to Qatar government

Like cheap two-dollar sluts, one after the other the premium European car manufacturers are selling out large chunks of their shares to temperamental-but-rich Arab countries. After the Kuwaitis have bought out Aston Martin and Abu Dhabi Emiratis have become large shareholders in Mercedes-Benz and Ferrari, Porsche is reportedly close to a deal that would see the Qatari government become a major shareholder to help Porsche pull itself out of debt that it so stupidly put itself in after trying to take over the Volkswagen Group.

The once-profitable sports-car manufacturer is in the process of refinancing its debt to the tune of 12.5 billion euros, but with 10.75 billion euros already raised, a request pending for another 1.75 billion euros from the German federal government and an additional billion euros in expected revenues this year, Porsche is still lusting for more capital.

Although previous reports suggested the deal would involve the Qatar state government buying a stake in Porsche, that was before Stuttgart and Wolfsburg began discussions of complicated mergers.

Two options are supposedly now in the works. The first is Qatar could either buy a stake in Porsche Automobil Holding SE, which owns both Porsche’s manufacturing unit and its 51% stake in VW. The second option is to buy up Porsche’s outstanding option on its 24% stake in Volkswagen, making Qatar a partner.

Post a comment: