2009年5月7日 星期四

Porsche and VW Move Closer to Uniting 保时捷与大众合并已成定局

企业 | 2009.05.07


一段时间以来,人们以为规模不大、但利润丰厚的跑车制造商保时捷试图吞并大众汽车集团。但是经济危机使情况发生了变化,现在大众和保时捷就合并达成了共 识。巴登-符腾堡州和下萨克森州的政府都给予了积极的回应。虽然保时捷拥有大众51%的股份,但是它也因此而负债90亿欧元,在新公司成立后保时捷还将保 持独立地位。保时捷现在拥有1万2200名员工,大众则在世界范围内拥有37万名员工。

大众和保时捷在萨尔斯堡的会面仅仅持续了4个小时,大众汽车和保时捷的合并已成定局,一个新的汽车股份有限公司马上就要诞生了。在这个未来 的公司旗下将会有10个品牌,但是保时捷依然是独立的品牌。在此基础上,大众和保时捷的董事将商讨合并后的细节。他们的目标是,在4周内制定未来公司的框 架。在这个过程中,双方企业的雇员代表以及作为大众最大股东的下萨克森州政府将参与公司未来蓝图的勾画。

大众和保时捷在萨尔斯堡的会谈只确定了新公司以后大致的发展方向,但如果没有拥有阻止表决权的下萨克森州政府的同意,这个计划就不可能执行。除此之 外还有很多的问题也都不确定,比如说新公司将设立在什么地方,沃尔夫斯堡还是斯图加特,还有谁将领导新公司等等。汽车专家威力·蒂茨教授说:“大众和保时 捷的联合意味着,人们需要一个新的领导团体。这也会引起人事上的变动,因为企业的职能将进行重新分配。”

但是现在还不清楚,是保时捷的总裁文德林·魏德金还是大众的总裁马丁·文德恩将领导这个新公司。无论如何,双方的董事会将在下周做好合并的各项准 备。究竟是大众还是保时捷将领导新公司的监事会,目前也不是很确定。如何接纳新的投资者,将不会在相关草案做出安排。但是从中长期来看,也不能排除这种可 能性。

随后,保时捷将自行解决财政问题。50亿欧元的资本增长显然已成为计划中的一部分。这样的话,保时捷在和大众合并前就实现了其增值的目的,它也将在 新公司中获得更多的股份。巴登-符腾堡州的总理君特·厄特林将在第一时间祝贺两家公司合并,下萨克森州的总理克里斯蒂安·伍尔夫表示,愿意同所有的参与者 对话。但是大众企业职工委员会的主席贝尔恩德·奥斯特洛夫的表态还是比较谨慎。奥斯特洛夫说关键是双方员工的利益是否会受侵害。

作者:Christof Gaissmayer / 陶莉


Porsche and VW Move Closer to Uniting

Published: May 6, 2009

After a four-year battle that combined dynastic politics with corporate deal-making, the families that control Porsche and Volkswagen reached a preliminary agreement on Wednesday to combine the two companies, uniting the biggest European car company with the elite sports car maker.

The combined entity will oversee 10 brands, but Porsche will continue to enjoy independent status within the new corporate structure, reflecting what is likely to be a continuing battle for dominance with Volkswagen.

But any final deal is weeks away because the supervisory boards of the two companies still have to sign off, as do union representatives and the state of Lower Saxony, which controls a sizable stake in Volkswagen.

But with the families in agreement, the biggest stumbling block in one of Europe’s longest-running corporate battles has been cleared.

In the new company, Porsche’s chief executive, Wendelin Wiedeking, is expected to play a more dominant role than he has, according to executives close to the negotiations who were not authorized to speak publicly about the deal.

Porsche is also expected to issue stock to help pay debt before any deal closes.

“In the final structure 10 brands shall stand below an integrated leading company alongside each other, whereby the independence of all brands and explicitly also of Porsche shall be ensured,” Porsche said in a statement.

Porsche had acquired a majority stake in Volkswagen, whose chairman, Ferdinand Piëch, is a member of the Porsche family that controls the automaker. But Mr. Piëch and his cousin, Wolfgang Porsche, could not agree on how to combine the two companies or how to lower Porsche’s debt of 9 billion euros ($12 billion).

Members of the Piëch and Porsche families have been in talks in Salzburg, Austria, that were part hard bargaining, part family drama.

The statement Wednesday did not address how the debt issue would be resolved. A working group, including union representatives of Lower Saxony and elsewhere, are to meet over the next four weeks to work out the details of the new company’s structure.

The global auto industry is in the midst of a broader consolidation, with Fiat of Italy preparing to take a 20 percent stake in Chrysler. Fiat is also interested in the European and Latin American operations of General Motors.

Volkswagen, which was created in the 1930s under the Nazi regime as the maker of the people’s car, has excelled in the market for small to midsize cars, and that is likely to be a crucial area of global competition.