In 2009, Volkswagen AG made a surprise announcement: they were buying Porsche. The acquisition gave VW complete control of the company, making it the largest car manufacturer in the world. Porsche, on the other hand, was saved from bankruptcy. So, how did this happen? Let’s take a look.

Back in 2005, Porsche revealed plans to take over Volkswagen, which would have made Porsche the biggest carmaker in the world. To do this, they started buying up VW shares, eventually owning 31% of the company. However, things took a turn for the worse when the global financial crisis hit in 2008. Suddenly, Porsche was saddled with debt and teetering on the edge of bankruptcy. In order to save itself, Porsche had no choice but to give up its plans for a takeover and sell a majority stake to Volkswagen. By doing so, Porsche secured its future while giving VW control of one of its most prestigious brands.

In 2009, Volkswagen AG announced that it was buying Porsche. The move saved Porsche from bankruptcy and made VW the largest carmaker in the world. So how did this happen? It all started back in 2005 when Porsche announced plans to take over Volkswagen. But then the global financial crisis hit and things took a turn for the worse. In order to save itself, Porsche sold a majority stake to VW. As a result, both companies secured their futures and remain strong to this day.