Qatar will be taking a seat on Porsche Automobil Holding SE’s supervisory board after having accumulated a 17% voting stake in Volkswagen AG. This move highlights the more active role that the Gulf state aims to have in the German auto industry.
Furthermore, the shift caused VW to replace its freely traded ordinary shares on Germany’s blue-chip index by its preferred shares. The change is effective Dec. 23. VW is also set to issue new preferred shares under a capital increase during the first half of 2010. After exercising options in VW, Qatar Holding LLC now holds 17%, up from 6.8%, in Volkswagen’s share capital. In a statement, Ahmad Al-Sayed,
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