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FRANKFURT (Dow Jones) – Volkswagen could prepare for the spin-off of Italian holdings such as the motorcycle brand Ducati or the sports car manufacturer Lamborghini. The legal structures of the investments are currently being changed, said CFO Frank Witter during a conference call. The goal is a structure in which VW “can act”, added VW CEO Herbert Diess without giving any specific details. A final decision has not yet been made.
The Italian holdings that belong to the premium subsidiary Audi also include the body manufacturer Italdesign.
The Reuters agency had recently reported, citing circles, that the Wolfsburg-based group was preparing a spin-off of the holdings with the aim of possibly going public with the Italian subsidiaries. VW wants to remain involved in Lamborghini.
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(END) Dow Jones Newswires
November 16, 2020 10:52 ET (15:52 GMT)
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