Printer Friendly

Porsche incurs EUR14bn in debt.

Auto Business News-27 July 2009-Porsche incurs EUR14bn in debt(C)2009 ENPublishing - http://www.enpublishing.co.uk

Auto Business News - 27 July 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Porsche Automobil Holding SE (Porsche) (Xetra: POR3) (FWB: POR3), a Germany-based automaker, has incurred EUR14bn in debt, according to German magazines Spiegel and Focus.

It was earlier expected that the company had a debt of EUR10bn.

According to Spiege, the earlier figures did not include bonds. The magazine also stated that Deutsche Bank AG (DB) chairman Joseph Ackermann warned Porsche in a confidential talk the intensity of the financial situation of the company.

[Editorial queries for this story should be sent to abn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))

COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Auto Business News (ABN)
Date:Jul 27, 2009
Words:127
Previous Article:BYD to acquire Hunan Midea.
Next Article:Ford Otomotiv posts unconsolidated net profit in H1.
Topics:


Related Articles
Parmalat reaches EUR5.4m settlement with Banca Carige.
Porsche incurs more than USD12bn in debt.
Porsche in sale talks with Qatar.
Qatar aims for a stake in Porsche: hot on the heels of Abu Dhabi taking a chunk of Daimler, another iconic German car maker was being targeted by...
Qatar takes stake in top carmaker Volkswagen.
Qatar takes VW stake.
Qatar takes stake in top carmaker Volkswagen.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |