Starting news article english 30 November 2009

Clifford Chance advises Volkswagen AG on the acquisition of a 49.9 per cent holding in Porsche AG

The international law firm Clifford Chance is advising Volkswagen AG on the creation of an integrated automotive group with Porsche, and on the first step, the subscription by Volkswagen of a 49.9 per cent stake in Porsche AG for around EUR 3.9 billion. The Clifford Chance team is led by partner Dr. Wolfgang Richter, Global Relationship Partner for Volkswagen, and Johannes Perlitt (both Corporate, Frankfurt) and included partner Dr. Thomas Krecek and associates Dr. Menso Engelmann, Jörg Rhiel, Oliver Polster and Eva Rohde (all Corporate, Frankfurt), as well as partner Dr. Joachim Schütze and associates Ruth Jorias and Nadia Esken (all Antitrust, Düsseldorf), partner Dr. Thorsten Vormann and associate Dr. Anette Gärtner (both IP, Frankfurt) and counsel Dr. Stefan Sax and associate Christine Burkhard (both Restructuring, Frankfurt).

The transaction also included negotiating new facility agreements for Porsche Automobil Holding SE and Dr. Ing. h.c. F. Porsche AG. Clifford Chance partner Alexandra Hagelüken and associate Justus Keiluweit (both Banking & Capital Markets, Frankfurt) advised Volkswagen AG on this aspect of the transaction.

Clifford Chance is further advising Volkswagen AG on the preparation of the preferred equity increase planned for the first half of 2010. The Clifford Chance team in this regard is led by partners Markus Pfüller and Sebastian Maerker and includes counsel Philipp von Ploetz and associate Holger Martin (all Banking & Capital Markets, Frankfurt).

The Paris and Amsterdam offices of Clifford Chance have advised Volkswagen AG in connection with the preparation of a put-option agreement with Porsche Holding GmbH, Salzburg, as regards their activities in France and Holland.

For further information please contact:

  •  Hans-Rolf Goebel, Head of PR Germany, Tel: +49 69 7199-2524, e-mail: hans-rolf.goebel@cliffordchance.com
  • Claudia S. Wright, PR Manager, Tel: +49 69 7199-4514, e-mail: claudia.wright@cliffordchance.com