Qatar spicing up Porsche investment

Posted on Thursday, 30 April 2009 , 02:04:38 byEmil

Filed under qatarporschepercentinvestmentvwPorscheVolkswagen

Qatar spicing up Porsche investment

Closely following on the Abu Dhabi's heels the 9.1 percent buy of Daimler (Germany), it has been unveiled Qatar is considering 'seriously' buying a Porsche stake. Abu Dhabi's PJSC Aabar Investment (state-owned) paid 2.72 billion Dollars to become last month the biggest individual investor of Daimler.

Al-Arab - newspaper of Qatar reported the Gulf state is looking now on investing in a few German carmakers, including Porsche. So, the rumors of Qatar's big interest in Porsche surfaced first on Monday. Now Qatar's interested reportedly in Porsche, alongside with some other unnamed carmakers, spreading some of the sovereign wealth. And just like other Gulf states, our Qatar has gathered a healthy fortune, all from the oil export.

The timing now could be quite right for Porsche, as well, as the German carmaker is coming up, raising on some really hefty bills. And Porsche now must pay off next year a 3.3 billion Euro debt and is seeking currently 2.5 billion Euro for refinancing 10 billion in present loans. Also, Porsche is preparing to raise up its Volkswagen stake to 75 %, that won't be exactly a cheap venture. But it's not clear how much exactly Qatar is will be investing in Porsche...