It was made public by Porsche that it intends to request aid from the German state bank KfW in the amount of 1.75 billion Euros. Porsche intends to pay back the loan with interest, although it also emphasized that there is no guarantee that the loan will be released.
The carmaker attempted to raise 12.5 billion Euros last March in loans to refinance its liabilities, although it only succeeded in raising 10 billion Euros . VW granted Porsche a 700 million Euro ( loan last week to help the latter cope with its deficit. Porsche, which owns 51% of VW abandoned its intended total takeover of German company last January, when it incurred a 9 billion euro debt. The topic of discussion at present is a merger between Porsche and VW.
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