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Goldman Sachs, Freshfields working on possible Porsche IPO -manager magazin -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Porsche’s logo can be seen at a Porsche dealership, during the COVID-19 coronavirus epidemic in Brussels on May 28, 2020. REUTERS/Yves Herman

FRANKFURT, (Reuters) – Investment bank Goldman Sachs and law firm Freshfields have been working with advisors on a potential listing of Volkswagen’s Porsche AG luxury unit (DE:), manager magazin reported Thursday. It did not say where the information was obtained.

Both Freshfields and Goldman declined to comment. Volkswagen had no immediate comment.

In May, people who were familiar with this matter told Reuters that Porsche SE’s largest shareholders, the Piech family, was willing to purchase a majority stake in Porsche AG if it is separate listed.

Volkswagen Chief Executive Herbert Diess, when asked about the possibility of Porsche being listed, a topic that has been discussed frequently in recent years, stated in July that, while Volkswagen was continuing to evaluate its system, its priority was battery capacity.

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