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Porsche-Piech buy 10% stake in VW's holding company

In August, 2009, as the scuttled merger of Porsche and Volkswagen had gone bad and Porsche was backed up against the ropes, Porsche Automobil Holding SE (PAHSE) relinquished a ten-percent stake in itself to Qatar Holdings as well as options it held on 17 percent of VW shares. The sale meant that, for the first time since the founding of the company 61 years before, an entity outside the Porsche and Piech families had a say in the running of PAHSE.
Buying that ten-percent stake back returns full ownership to the two families, the holding company's sole possession being ownership of 50.7 percent of VW's common shares. The price paid wasn't disclosed, but at market rates the purchase would be worth close to $1.25 billion. Qatar intends to hold onto the 17-percent stake it has in Volkswagen.

German judge 'inclined to dismiss' hedge fund lawsuit against Porsche

Last year, around two dozen investors, including hedge funds, leveled a 1.4 billion euro ($1.95 billion at the time) lawsuit against Porsche in connection with the automaker's attempted takeover of Volkswagen in 2008. The Stuttgart Regional Court dismissed the case. Around 19 of those plaintiffs are heading back to court to appeal the ruling and still hope to get 1.2 billion euros ($1.4 billion). However, according to one German judge, the chances for success aren't any better this time around. "On balance it's our view that we consider the lawsuit, or the appeal, to be unpromising for several reasons," Gerhard Ruf, a judge in Stuttgart, said to Reuters. "We are inclined to dismiss the case." The court's ruling on the appeal will be announced on March 26. The investors' case hinges on Porsche's strategy surrounding the botched takeover. The sports car maker said that it wasn't trying to control VW, when in fact it was. These hedge funds had bet against Volkswagen stock, but the share price surged when Porsche's plan inevitably came to light. Investors have sued the sports car company multiple times since then in attempts to recoup billions of dollars. However, none of the lawsuits have been successful, whether attempted in the US or Germany. Former Porsche CEO Wendelin Wiedeking and and CFO Holger Haerter might still stand trial for the alleged stock manipulation, though. News Source: ReutersImage Credit: Matthias Rietschel / AP Photo Government/Legal Porsche Volkswagen lawsuit hedge funds porsche lawsuit

Volkswagen Cross Coupe GTE is a sleek take on brand's future CUV

Volkswagen continues its long tease leading up to an eventual US-built, seven-passenger, three-row crossover with the Cross Coupe GTE at the 2015 Detroit Auto Show. While it's still affixed with the tinsel of a concept car, there are a lot of details that will arrive on VW's eventual production crossover. The wheelbase of the GTE is said to be identical to the production model, although this five-passenger CUV is actually about a foot shorter overall, Volkswagen's chief of design, Klaus Bischoff, told Autoblog. The overall shape of the GTE's greenhouse, meanwhile, will also be very similar to the car that'll come to market, although more progressive from the C-pillar forward (that's right kids, that sexy sloping rear end isn't for production). Despite the aggressive rake, a peek in the GTE's trunk revealed room for the CUV's third row. Beyond hinting at a new addition to the company's lineup, the GTE also gives us a look at future Volkswagen design, including the use of four-element LED running lamps. Body lines will be as sharp as is feasible. Look for the production version of Volkswagen's seven-passenger SUV at the end of next year. Until then, check out the two-row concept, courtesy of our live images from the 2015 Detroit Auto Show.