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Porsche gets German approval to acquire stake in Varta and control over V4Drive

( October 31, 2024, 09:58 GMT | Official Statement) -- MLex Summary: Porsche has received German antitrust approval to acquire a minority stake in battery-maker Varta and control over the mobility business V4Drive. The Bundeskartellamt said it had found no competition concerns related to the transactions, given the parent company VW is active on a different market and there is expected to be little impact on supply relations. Porsche will have no veto right over Varta's strategic decision-making.Statement attached, in German....

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