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Porsche Romania expands into real estate

The automotive importer splits and transfers lands and buildings worth RON 240 M to the newly established company, Porsche Immobilien.

Porsche Romania separates its activities and it establishes a company to deal with real estate, Porsche Immobilien, to which it transfers the lands and buildings from its patrimony, worth RON 240 M, according to Mediafax. Porsche Immobilien specializes in real estate, while Porsche Romania continues to be active in importing and trading cars, the two companies working as separate legal entities, according to the partial split project of the company. “Considering that Porsche Romania has reached an advance development stage, where the importing activity clearly distinguishes from real estate (and they are already organized, managed and recorded separately into the company’s records), this split (…) and the establishment of two separate entities represent a natural step based on the group structuring policy (Porsche Holding – editor note), both worldwide, and in each country where the group is active”, according to the project. Based on the cited source, Porsche group intends to develop the real estate activity in Romania, through acquisition of lands, construction of office buildings or rent of commercial spaces. As part of the operation, Porsche Romania will transfer half of the newly established equities, 17,860 equities with a total nominal value of RON 178,600. The two companies will have the same partners, with similar participations in both companies. Thus, Porsche GmbH will control 99.9944 per cent of the two companies, and the balance of 0.056 per cent will be owned by Porsche Automotive Investment GmbH. The lands transferred, with areas ranging from 4,000 square meters to five hectares, are located in Bucharest, Ilfov, Constanta, Cluj and Timis. Porsche Romania, importer of brands Porsche, Volkswagen, Audi and Seat, traded, last year, 58,790 vehicles, by 35 per cent more than in 2006, and it expected maximum 5 per cent advance this year, considering the modification of the automotive charge and EUR/RON rate, in favour of EUR. Sursa: http://www.nineoclock.ro

Tags: porsche romania estate audi

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