Volkswagen AG and Porsche Automobil Holding SE (Porsche SE) are all set for full consolidation of Porsche AG into the Volkswagen Group, expected to take effect from August 1,2012. THE MOVE, agreed on July 5, will allow the integrated automotive group consisting of Volkswagen and Porsche to become reality some two years earlier than would have been economically feasible under the put/call options provided for in the Comprehensive Agreement signed in August 2009. Porsche SE will receive around ?4.46 billion and one Volkswagen ordinary share as consideration for contributing the 50.1 per cent of Porsche AG not yet owned by Volkswagen.
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