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0Porsche loan request rejected by Germany's state bank 1246393620
Porsche is profitable and it owns a big chunk of the far larger Volkswagen, yet cash seems to be in short supply. Automotive News is reporting that the world-renowned luxury sports car maker's 1.75 billion euro ($2.45 billion USD) loan request from German state bank KFW has been rejected, leaving ...
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REPORT: VW leans on Porsche, Porsche responds, "We will not accept extortion." 1246282020
Porsche maintains it still has its mojo, but Volkswagen is treating the company like Porsche's got lunch money and VW is hungry. VW -- which Porsche effectively owns -- loaned Porsche €700 million ($983.8 million) earlier this year, with Porsche due to pay it back in September. As collateral ...
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Porsche nearing sale of 25% stake to Qatar? 1245173340
After a few years of financial windfalls, Porsche is suddenly in need of plenty of capital. The German automaker already received a 700 million euro ($978 million U.S.) bridge loan from Volkswagen in March to stay out of bankruptcy, and it is reportedly in talks with banks to secure 1.75 billion ...
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Porsche reportedly closing in on Qatar investment deal 1244546760
Porsche 911 Carrera 4S in the Autoblog Garage – Click above for high-res image galleryIt's a match made in heaven: Porsche needs money, Qatar has tons of it. Any questions?Following deals that have seen Kuwaiti firms take control of Aston Martin and Abu Dhabi investing in Daimler and ... -
22-year-old sheik spending $10M a year to become the Yankees of drag racing? 1241013600
There are a number of parallels with an all-American tale of racing fan turned team owner: Man loves drag racing since boyhood, comes from a region crazy for the sport, started off in racing's little league, and races to win even in the big leagues. Yet the differences are enough to inform us that ...
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Qatar pondering taking stake in Porsche? 1240950480
The worst secret in the universe is that there's a lot of money in the Middle East and the Gulf states are looking all over the world for places to put it. Abu Dhabi's Aabar investment spent €1.95 billion on a 9.1% stake in Daimler (around $2.5B USD), and now the state of Qatar is eying what ...
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Ferrari Store - Los Angeles opens in the Beverly Center 1175007180
Click image for high-res gallery of photos by Las de AlwisIt's about time. That seemed to be the consensus of the invited guests at the grand opening of the Ferrari Store - Los Angeles. Coinciding with the marque's 60th Anniversary world rally, the store held its grand opening celebration on Sunday ...
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Ferrari boutique opens in Qatar 1164660960
A new Ferrari Store has opened in Qatar. The boutique shop sells Ferrari accessories at the Alfardan Automotive Center. It's the first store of its kind in the Middle East, which has continued to grow as a leading market for Maranello's finest. Similar to the store at The Wynn in Las Vegas, the ...
