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Entry into the car rental company: Volkswagen plans to invest in Sixt

2020-09-16T13:13:56.579Z

The Wolfsburg-based car manufacturer is apparently about to join Sixt. The car rental company is preparing with a capital increase.



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Now it should succeed: Volkswagen has wanted to do common cause with Sixt several times

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imago stock / imago images / Sven Simon

The Volkswagen Group is apparently facing a stake in the Munich car rental company Sixt.

According to information from manager magazin, the two companies are holding talks about a possible entry.

VW is planning with a stake of around 15 percent, according to corporate circles, probably split into common and preferred shares.

Sixt is preparing a capital increase.

Both Volkswagen and Sixt did not comment on the information.  

Volkswagen had repeatedly tried to set up joint ventures with Sixt in recent years.

For example, it was about car sharing.

In the end, however, the car rental company always refused.

Now the door is open, say those in the know.

The Sixt family itself, which still controls the majority of the voting rights, does not want to sell any shares.

But a major shareholder is welcome in the current situation.  

So far, Sixt has weathered the Corona crisis better than some other car rental companies.

Sales fell by almost 40 percent in the first half of 2020, and Sixt posted a loss.

But in the industry it is said that the last few months have gone better again.  

Read the full story on manager magazin +.

Source: spiegel

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