Porsche has a 14 billion euros debt

Posted on Thursday, 23 July 2009 , 14:07:07 byEmil

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Porsche has a 14 billion euros debt

Citing an informed source, the famous German newspaper Bild reports that the company that is in charge of the administrative area of the Porsche business, Porsche Automobil Holding SE, has accumulated a total debt of 14 billion euros in the failed attempt to take complete control of Volkswagen .

It appears that Porsche`s debt was a lot bigger than the 10 billion euros that has been so far revealed by the German automaker, as sources told to the news agency Reuters recently.

The German magazine Der Spiegel has reported on Saturday that Volkswagen would pay no less than 8 billion euros to Porsche SE in order to buy its fully owned sports car business, Porsche AG, as a result of the immense debt Porsche has. Even tough nothing is certain until now, the two companies are most likely going to make a decision on this very important issue tomorrow in a meeting that will take place in Germany. We will keep you posted with all the latest updates.

Porsche has a 14 billion euros debt image Porsche has a 14 billion euros debt image