1

Jul

Porsche misses out on government loan

Posted by admin  Published in Porsche

Porsche has failed in its bid to secure a lend from Germany’sitting state bank, KFW, what one. has forced the company to seek alternate sources of funding.

The German manufacturer was seeking some US$2.5 billion in government support back accruing more than US$12 billion in debt trying to take over Volkswagen.

Porsche related it will not submit another loan practice to KFW but will instead moil harder on sourcing major investment elsewhere – namely the Gulf state of Qatar.

Qatar had been deliberating on a 25 per cent investment stake in Porsche for some time at this time but is presently said to be favouring the purchase of up to 10 per cent of Volkswagen.

A final decision from Qatar is expected later this month.

Source: www.caradvice.com.au