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Former Volkswagen chairman sells most of indirect stake in company

Former Volkswagen chairman sells most of indirect stake in company

Tuesday, April 4, 2017, 12:03 PM

Former Volkswagen board chairman Ferdinand Piech has agreed to sell the bulk of his substantial indirect stake in the company. Piech held around 15% of Porsche Automobil Holding SE, a stake valued at around 1.1 billion euros. The holding company said that Piech reached the agreement to sell a "substantial part" of those shares to other members of the Porsche and Piech families.
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