Holding in Volkswagen to Be Increased to over 50 Percent

Porsche’s Majority in Volkswagen Will Provide Indirect Control over Scania

On this Monday, Porsche Automobil Holding SE, Stuttgart, Germany purchased further ordinary shares in Volkswagen AG, Wolfsburg, and will increase its holding to 50.76 per cent of all ordinary voting shares in Volkswagen.

As a result of passing the threshold of 50 per cent Porsche will acquire indirect control over Scania AB, Södertälje, and is required by Swedish law to launch a mandatory offer for the truck manufacturer. The Stuttgart-domiciled company is not bound by pre-acquisition prices and is only obliged to offer the minimum price prescribed by law. The minimum price will be calculated on the basis of the volume weighted average stock exchange price of the Scania shares during the 20 trading days prior to publication of the acquisition of the majority in Volkswagen.

Porsche points out that it has no strategic interest in Scania and is not interested in acquiring Scania shares.

Contacts

Porsche
Tony Fouladpour, 770-290-3667
or
In Germany:
Frank Gaube +49 711-911-25567 or cell +49 170-911-3638
or
Michael Baumann +49 711-911-27904 or cell +49 170-911-2235