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Porsche buys 1.5% of VW shares from Suzuki

2015-09-26 18:26

METHOD TO THE MADNESS? Porsche has increased its stake in VW after purchasing 1.5% from Suzuki. Image: Automedia

Berlin, Germany — German automaker Porsche SE says it is buying 1.5% stake of ordinary shares in Volkswagen AG from Suzuki.

Bigger stake

The purchase raises Porsche's share of Volkswagen AG's ordinary shares to 52.2%, and its stake in VW's subscribed capital to 32.4%.

The move comes days after Volkswagen was hit by a scandal over allegedly rigged US emissions tests in diesel vehicles.

Read: Emissions scandal: Now SA affected?

Porsche said in a statement Saturday (Sept 26 2015) that it considers the purchase "as a strong commitment to its core investment and emphasizes its role as an anchor shareholder" in Volkswagen.

More on VW emissions scandal:

Emissions scandal: BMW implicated?
VW to start firings over emissions scandal
VW CEO resigns: 'Stunned by misconduct
NOx gasses in diesel cars: Why are they so dangerous?
#Dieselgate: Internet reacts to VW scandal
Not just VW: 5 major car industry scandals
Emissions scandal: Porsche head to replace VW chief?
VW chief on emissions scandal: 'We screwed up'
Seoul summons VW over emissions scandal
VW emissions scandal: What does it mean for SA?

Huge VW, Audi recall: Diesel car sales stopped
UPDATE: Huge VW, Audi recall: Billions in fines
Berlin: New emission checks from German automakers

Read more on:    porsche  |  volkswagen  |  berlin  |  emissions scandal  |  shares

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