Porsche AG Benefits From Being Part Of Volkswagen Group
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Porsche AG, part of the Volkswagen Group, profits from being part of Volkswagen, its CEO Oliver Blume said on Wednesday, following speculation that an IPO of the luxury unit could be on the cards.
“We feel very comfortable in the Volkswagen Group, we can profit from synergies. The important thing in this time is to focus on transformation,” Blume said, speaking at a car industry conference organized by autos publication Automobilwoche in Ludwigsburg, Germany. China Vehicle Sales Fall 9.4% In October 2021
Germany’s Manager Magazin reported in October that investment bank Goldman Sachs and law firm Freshfields were among advisors working on a possible listing of the unit.
Volkswagen’s CEO Herbert Diess said on Oct. 28 the company was constantly reviewing its portfolio but provided no further comment.
Questions & Answers
Q.Why does Porsche AG's CEO believe being part of the Volkswagen Group is beneficial?
Why does Porsche AG's CEO believe being part of the Volkswagen Group is beneficial?
Oliver Blume stated that Porsche AG feels comfortable within the Volkswagen Group and can profit from synergies. He also highlighted that focusing on transformation is important at this time.
Q.Who was reported to be advising on a potential Porsche AG listing?
Who was reported to be advising on a potential Porsche AG listing?
Manager Magazin reported in October that investment bank Goldman Sachs and law firm Freshfields were among the advisors working on a possible listing of the luxury unit.
Q.What was Volkswagen's CEO's response to the speculation about a Porsche AG IPO?
What was Volkswagen's CEO's response to the speculation about a Porsche AG IPO?
Herbert Diess said on October 28 that the company was constantly reviewing its portfolio. However, he did not provide any further comment on the specific matter of a Porsche AG listing.
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