With 5 billion capital increase „Portia“

The Supervisory Board of the German manufacturer of luxury sports cars „Portia“ today approved a plan to increase capital to 5 billion euros.

The news was reported after a long meeting, held behind closed doors, whose purpose is to achieve agreement on the future of the emblematic company.

Former CEO of „Portia“ Vendelin Videking had turned to the owners of the company for help in securing refinancing of debt of the company with a capital injection of 7.1 billion dollars.

Infusion of money the company is perceived as a precondition for the merger with another German company – the biggest in Europe avtomobilostroitel – „Volkswagen“.

Portia announced that Videking has resigned and is effective immediately, press forward France, stating that the same applies to the current financial director of „Portia“ Holger Harter.

There is agreement on this matter with the supervisory board of „Portia,“ the Commission stated in the company. Videking who is the glory of the best paid manager in Germany will receive compensation for leaving his 50 million euros, of which half will go to „social foundation“ is added to the Commission.

The two leaders „Portia“ strategists were buying the „Volkswagen“ by Portia, a gesture of leaving, to be able to calm down the situation and assist the creation of an integrated automotive group, is also in communication of Portia.

Videking will be replaced by Michael Maht who ever was responsible for the production of „Portia“.

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Finance