Goldman Sachs, Freshfields working on possible Porsche IPO

US Materials 21 October 2021 17:17 (UTC +04:00)

Investment bank Goldman Sachs and law firm Freshfields are among advisors working on a possible listing of Volkswagen's luxury unit Porsche AG, manager magazin reported on Thursday, without saying where it obtained the information, Trend reports with reference to Reuters.

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

People familiar with the matter had told Reuters in May that the Porsche and Piech families, who control largest shareholder Porsche SE, are prepared to take a direct stake in Porsche AG should the luxury carmaker be separately listed.

Asked about the idea of a Porsche listing, talk of which has surfaced regularly in recent years, Volkswagen Chief Executive Herbert Diess in July said that while the company continued to review its set-up its battery ramp-up was the priority.