Porsche takes a $47b loan out to bid for VW

What's it take to purchase a controlling stake in Volkswagen? Reuters' reports contacted all the major institutions involved in the deal and came up with 35 billion euros, or $46.47 billion US. To give Porsche the required 30.94-percent of shares, the guys and gals in Stuttgart have tapped ABN AMRO, Barclays Capital, Commerzbank Merrill Lynch and UBS to arrange the purchase.

While all the technical details escape those of us lacking any extensive knowledge of such heady financial topics, it's easy for us to understand that Porsche has to submit a slew of documentation to German regulators over the next four weeks in order to be reviewed, analyzed and approved before such a purchase could take place.

[Source: Reuters via Automotive News (Sub. Req.)]

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