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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:

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