Following closely on the heels of Abu Dhabi’s 9.1 percent purchase of Germany’s Daimler, it has been revealed Qatar is ‘seriously’ considering buying a stake in Porsche. Abu Dhabi’s state-owned Aabar Investment PJSC paid $2.72 billion to become Daimler’s largest individual investor last month.
According to Qatar’s Al-Arab newspaper, the Gulf state is currently looking to invest in several German automakers, including Porsche. Rumors of Qatar’s interested in Porsche first surfaced on Monday.
Qatar is reportedly interested in Porsche, along with other unnamed automakers, to spread some of its sovereign wealth. Like many other Gulf states, Qatar has amassed a healthy fortune from the export of oil.
The timing could be right for Porsche, too, as the German automaker is coming up on some pretty hefty bills. Porsche must pay off a debt of 3.3 billion euros next year and is currently seeking 2.5 billion euros to refinance 10 billion in current loans. Porsche is also preparing to up its stake in Volkswagen to 75 percent, which won’t exactly be a cheap venture.
It remains unclear exactly how much Qatar is looking to invest in Porsche.
04/28, 7:05 PM
posted by:
johnnycanuck
They should make a good pair. Personally I’d take the hump on a camel versus the one on the Panamera.
04/28, 9:19 PM
posted by:
Veda
Good investment on VW btw.
04/28, 9:30 PM
posted by:
E32landyacht
I’m really curious as to what the other German automakers they are interested in are. I personally think that they should invest a large amount in BMW instead, under the specific condition that BMW’s designers stop designing cars on etch-a-sketches with their eyes closed.
04/29, 5:25 AM
posted by:
scratchy
you got a point, E32landyacht. if anyone wants to invest in BMW they should send the designers to an eye test first.
04/29, 9:03 AM
posted by:
bdizzlefizzle
E32 and scratchy, that’s a terrible idea. If you knew anything about the auto business, you’d know that the Quandt family controls BMW via a 45% stake in it, and has for years and years (since they saved the company a while back). No one can afford to buy a stake large enough to offset the Quandts right now, and they would never be able to given the ownership structure of the remaining 55%…too much is loyal to the Quandts.
johnnycanuck, I’m not always a big fan of your comments, but this one was hilarious and spot on.
04/29, 9:58 AM
posted by:
GermanCarDriver
@ bdizzlefizzle
Thats certainly true,
but if they’d be interested in controlling Porsche, they wouldn’t even buy in, since it’s well known, that Porsche is owned to 50,1 % by the family of the founder, 25 % Piech, 25 % Porsche.
Someone who buys Porsche shares goes for the return, not for controll.
04/29, 10:12 AM
posted by:
scratchy
@bdizzle…it was a joke…
everyone in Europe that has an interest in cars knows about the Quandt family , like they know about Rudolf Diesel , Karl Benz, Mr Bean (he’s a huge petrol-head), Ayrton Senna, Luca di Montezemolo, etc.we’re not cavemen…
04/29, 3:55 PM
posted by:
E32landyacht
@bdizzlefizzle, like scratchy said, it was just a joke. I’m well aware of the Quandt family and their 46.6% stake in BMW (not gonna lie, I looked that one up). What with nazi accusations and sex scandals, they are certainly a wonderful bunch. My point (though totally unrelated to this story) was that a toddler with a few dull crayons could design a better looking car. Chris Bangle should be taken out back and flogged with a rubber hose
(even though he isn’t with BMW anymore, I fear for what he’ll screw up next).
Anyways Mr. fizzle, go touch yourself