Porsche AG’s entry as a shareholder in VfB Stuttgart 1893 AG has not yet been formally completed. The kicker knows the schedule.
VfB Stuttgart will probably not receive the first tranche from Porsche AG until October. IMAGO/Sportfoto Pack
Because, contrary to the VfB bosses’ announcement at the presentation of the “Württemberg global brand alliance” that they wanted to report implementation by the end of July, it had been repeatedly postponed due to legal details – without ever being in danger. Claus Vogt, chairman of the supervisory board of VfB AG and president of the eV, said in August that he was assuming September.
This is not ruled out; according to kicker information, the participation contracts were recently exchanged between the AG, eV and investor in a final round. At the end of the month there will be a general meeting of the various shareholders of the AG: VfB eV, Mercedes Benz AG, Jako AG and the new one in the group, Porsche AG. The deal will be formally completed there and then notarized – although entry in the district court register is more likely to be expected in October.
Only then can the first tranche flow, which, according to kicker information, amounts to 20.75 million euros. The “margin” of the same amount will then follow in the summer of 2024, as Porsche acquires its shares in two transactions of 5.41 percent. The delay does not have any direct negative consequences, such as restrictions for sports director Fabian Wohlgemuth on the transfer market.
The new money will be invested in stones, debt reduction and equity
The money from the new, strategic partner should primarily be invested in stones, debt reduction and equity, rather than in stars. In the medium term, however, a higher equity cushion is of course indirectly helpful for trading on the Mercato because, for example, it can ensure better loan conditions from banks in the course of transfer financing. The Swabians’ equity had gradually decreased in recent years – keyword pandemic – from 46.1 (as of December 31, 2019) to 11.2 million euros (as of December 31, 2022).
After the second Porsche tranche, the sports car manufacturer will then hold around 10 percent, on a par with its “city rival” Mercedes Benz. The new investor “dilutes” the previous shares. Jako AG’s shareholding will also be numerically smaller than the current 1.61 percent. The parent club then holds around 79 percent, so it can still sell just under 4 percent. According to the resolution of the general meeting in 2017, 75.1 percent must remain in the hands of the eV.
2023-09-18 17:48:56
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