July 28th in Associates, Current Affairs, Deals, International, Larry Demont, News by Editor .

Clifford Chance and Freshfields Rev Up Porsche

In the realms of M&A, this one has a touch more glamour than most. The tie-up between Porsche and Volkswagen has been occupying the fianancial press for some time now and it finally looks like the deal will go ahead.

Bloomberg reported yesterday that Porsche, the maker of the 911 sports car, agreed last week to combine with its larger peer Volkswagen, a company with which it has historic and family ties. Volkswagen and Porsche ended a fight for control …

Charles Tyrwhitt UK
 

In the realms of M&A, this one has a touch more glamour than most. The tie-up between Porsche and Volkswagen has been occupying the fianancial press for some time now and it finally looks like the deal will go ahead.

Bloomberg reported yesterday that Porsche, the maker of the 911 sports car, agreed last week to combine with its larger peer Volkswagen, a company with which it has historic and family ties. Volkswagen and Porsche ended a fight for control on July 23. The two carmakers aim to work out details of the merger in the coming three weeks. A Qatari fund will acquire 17 percent of VW, becoming the third-largest investor in the company. Porsche owns about 51 percent of VW, while the German state of Lower Saxony is the second-largest shareholder with a 20 percent stake.

Looking after the legals are Clifford Chance for VW and Freshfields for the lawyer’s favorite sports-car manufacturer, Porsche, says the Lawyer . Might just make the due diligence process a little more intriguing than usual for juniors (or partners for that matter) excited by flashy German engineering.

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2 Comments

  • joe
    July 28, 2009
  • Anonymous
    July 28, 2009