In a celebrating and wonderful atmosphere, Porsche Automobil Holding SE, Stuttgart, and Qatar Holding LLC (QH), signed an agreement, marking the entry of the Emirate of Watar in the Porsche SE family. This afternoon, Chairman of the Supervisory Board of Porsche SE, Dr. Wolfgang Porsche, welcomed high ranked delegation from Qatar consisted of Prime Minister of the Emirate, Sheik Hamad ibn Jassim ibn Jabir Al-Thani, to the historical Porsche Villa located on Killesberg Hill outside of Stuttgart.

Before the eyes of the Minister President of Baden-Württemberg, Günther Oettinger, the two men confirmed and signed two contracts. The first agreement was signed by the Prime Minister of Qatar and is purchase agreement, with the help of which, Qatar will get 10 percent of the ordinary shares of Porsche SE. Dr. Wolfgang Porsche and Hans Michel Piëch also signed the agreement from the German side. The second agreement which provides for the takeover by the Emirate of a major share in the cash settled options relating to Volkswagen shares, was signed by Ahmad Al Sayed, CEO of Qatar Holding, and Chairman of the Executive Board of Porsche AG, Michael Macht, as well as his Deputy Chairman, Thomas Edig, who are both members of the Executive Board of Porsche SE.

German side, presented by the Dr. Wolfgang Porsche gave the Qatar delegation a warm welcome as a new member of the Porsche shareholder family and they said that this day is already historical for both sides. Maybe this is because for the first time in the history of the company, part of ordinary Porsche shares are in hand of external investors. To this day, the all shares belonged to the family members of Porsche and Piech.

Sheik Hamad ibn Jassim ibn Jabir Al-Thani emphasized that Qatar considers itself a strategic investor who has great interest in the long-term positive development of Porsche. “Porsche ranks among the most valuable automobile brands in the world. We are proud to be a part of this sports car manufacturer and its rich tradition and history. Through our trust-based collaboration with the family shareholders, we will help ensure that the success story of Porsche, and, in the future, of Volkswagen continues to be written,” explained the Prime Minister.

Here are the rest of the photos from the conference at Porsche Villa:

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