Porsche's family owners are poised to settle their feud over a rescue of the ailing German sports carmaker with a compromise deal that would wipe out almost all its net debt.
People close to the situation told the Financial Times that the Porsche and Piëch families, which co-own the sports carmaker, are working on a package of measures to reduce its net debt of more than €10bn ($14.1bn) “as completely as possible”.
They said the combination of a sale of half the sports car business for as much as €4bn to Volkswagen, a €5bn capital raising and the sale of options that can be converted into VW shares was seen as a possible solution to the debt problems.
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