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Porsche SE acquires 97% of PTV Group for more than 300 million

Automotive News

Hans Dieter Pötsch, President of Porsche SE, said that the transaction allows another important step towards creating an alternative portfolio to current investments in Wolkswagen.

Volkswagen’s majority shareholder Porsche Automobil Holding SE has reached an agreement for the acquisition of 97% of the shares of software provider for traffic planning and transport management PTV Group for an amount of more than 300 millions of euros.

The company has indicated that the closure of this operation is pending approval by the corresponding authorities. Porsche SE President Hans Dieter Pötsch has indicated that this transaction allows the firm to take another “important step” towards creating an alternative portfolio to current investments in Volkswagen.

“As a long-term investor, our focus is on the profitable growth of the PTV Group business, for which we rely on the experienced management of the company,” said the head of the owner of the Volkswagen consortium.

For its part, the head of Investment Management of Porsche SE, Philipp von Hagen, stressed that PTV Group has a well-established and profitable business model and said that it operates in key trends that its firm believes will have relevance Particularly in the future development of mobility.

EFE – POR Europa Press – 06/07/2017 (Translation Soft)

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