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November 29, 2010

Porsche, the family-controlled car company, is hoping to gain approval for a €5 billion rights issue at its annual general meeting held 30 November.

Porsche, the family-controlled car company, is hoping to gain approval for a €5 billion rights issue at its annual general meeting held 30 November.

The rights issue is aimed at cutting the company's huge debt pile in order to smooth the way for the next stages of its merger with Volkswagen, the carmaker that is controlled by a rival branch of the founding Porsche family.

October 1, 2010

Ferdinand Piëch, Volkswagen’s chairman and grandson of Ferdinand Porsche, said he would be keen to acquire Alfa Romeo, one of Europe’s most famed car brands which is owned by Fiat.

Ferdinand Piëch, Volkswagen's chairman and grandson of Ferdinand Porsche, said he would be keen to acquire Alfa Romeo, one of Europe's most famed car brands which is owned by Fiat.
 
Piech (pictured), speaking at the Paris motor show, said VW would be "interested in taking over Alfa Romeo" to add to the 10 marques the carmaker already owns.
 
Sergio Marchionne, Fiat's chief executive, responded by saying: "None of our cars are up for sale."
 

August 26, 2010

Marc Smith analyses the trends

Just a few years ago they were analogous to the gluttonous charicatures in a Hogarth painting, but M&A deals have been on the equivalent of a corporate Atkins diet of late.

The biggest deal this year involves a family-controlled Indian business in the telecommunications sector with a price tag of $11 billion.

In sharp contrast, when we last covered the family business M&A story in the summer of 2007, the largest deal was a joint $96 billion bid for ABN Amro by the Botin family-controlled Santander group in partnership with RBS and Fortis.

August 25, 2010

The M&A market has been transformed over the last few years as the mega deals of the boom years have given way to more modest strategic transactions. Here are the year's largest M&A deals involving family firms

01 $11 billion Reliance Infratel's merger with GTL Infrastructure

July 30, 2010

VW, the family-controlled automaker, continues to outpace Porsche, its smaller rival owned by a different branch of the same family, ahead of their proposed merger next year.

VW, the family-controlled automaker, continues to outpace Porsche, its smaller rival owned by a different branch of the same family, ahead of their proposed merger next year.

VW announced its results for H1 2010, the highlight being profits after tax of €1.8 billion. The Germany-based company, Europe's largest automobile manufacturer, also increased its global market share to 12%.

May 26, 2010

Volkswagen AG, the family-controlled car manufacturer, announced yesterday it is to take a 90.1% stake in the family-owned design and development company Italdesign Giugiaro.

Volkswagen AG, the family-controlled car manufacturer, announced yesterday it is to take a 90.1% stake in the family-owned design and development company Italdesign Giugiaro.
 
Financial terms of the deal were not disclosed, however VW said it would acquire the share from Italdesign's current family owners, the Giugiaro family, through its Lamborghini brand. The founding family will retain the remaining shares.
 

April 30, 2010

The number of hedge funds suing family-controlled automaker Porsche for market manipulation and fraud in 2008 has risen to 35.

The number of hedge funds suing family-controlled automaker Porsche for market manipulation and fraud in 2008 has risen to 35.

The plaintiffs released a joint statement yesterday stating 18 new hedge funds had joined the litigation against Porsche Automobile Holding SE and two former executives, Wendelin Wiedeking and Holger Haerter, accusing them of lying over their intentions towards Volkswagen. 

February 1, 2010

Hans Peter Porsche, third-generation family member of the founding Porsche family, retired from the supervisory board of the family business on Friday.

Hans Peter Porsche, third-generation family member of the founding Porsche family, retired from the supervisory board of the family business on Friday.

He is to be replaced by Sheikh Jassim Bin Abdulaziz Bin Jassim Al-Thani, a representative of Qatar Holdings, the Doha-based investment company that owns a 10% stake in Porsche. 

December 9, 2009

Volkswagen AG, the family-controlled car manufacturer, announced today it plans to take a 19.9% stake in the Japanese car company Suzuki Motor Corporation.

Volkswagen AG, the family-controlled car manufacturer, announced today it plans to take a 19.9% stake in the Japanese car company Suzuki Motor Corporation.

The move is an attempt to access the emerging Asian markets, particularly the Indian market, in VW's quest to become the world's largest automaker.

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