German car manufacturer Porsche is planning to speed up sell its remaining 50.1% stake in its sports-car business to Volkswagen to pave the way for cost savings and pare the debt.
Though Volkswagen is keen to acquire the remaining stake, but the company wants to wait untill August 2014 so that the company will not have to incur taxes of as much as EUR1.5bn.
Volkswagen is planning to acquire the remaining stake in Porsche sports car unit for about EUR4.5bn as part of an agreement signed in December 2009 to incorporate both the firms.
The sports car unit makes the Cayenne SUV and Panamera four-door coupe.
The acquisition is expected to allow Volkswagen to achieve enhanced economies of scale after legal obstacles forced the two to terminate the full-fledged merger in September 2011.
Volkswagen including its subsidiaries Audi and Czech unit Skoda has reported 8.4% rise in its deliveries between January and May 2012 to 3.65 million units, but deliveries declined 6.4% western Europe, excluding Germany.
