Porsche Automobil Holdings, the billionaire Porsche and Piech family investment vehicle, plans to keep its holding in Volkswagen as its core investment should a listing of the sports-car brand go ahead as planned.
“We continue to see ourselves as a long-term anchor shareholder in Volkswagen,” said CEO Hans Dieter Poetsch. “A direct investment in Porsche would not change this.” Poetsch is also supervisory board chair at Volkswagen. The terms, still not finalised, for the IPO would enable the Porsche and Piech family to claw back direct influence over the 911 and Taycan maker in what used to be their family enterprise. Under the plan, the family would gain a blocking minority stake of 25% plus one share. The listing could value the brand at as much as €90bn, according to Bloomberg Intelligence.