HAMBURG/FRANKFURT, Sept 5 (Reuters) – Volkswagen announced on Monday plans to go ahead with a planned IPO for Porsche, the group’s premium sports car brand.
The German manufacturer has indicated that the operation would be launched at the end of September or the beginning of October, and would be finalized by the end of the year.
The group’s supervisory board voted Monday evening in favor of the project.
Investors expect the deal to be valued between 60 and 85 billion euros. (Report Paul Carrel, Victoria Waldersee, Jan Schwartz; Emma-Victoria Farr, Christoph Steitz and Ilona Wissenbach, with contributions from Tom Sims; French version Camille Raynaud)