Volkswagen Takes Over Polish Import Operation

Shareholders have approved the decisions to sell their shareholding in KPI Polska to Volkswagen AG as of January 1, 2012. The price of the deal was not disclosed, but Polish media reported that it may be worth PLN700 million (€160 million). Dealership operations run by KPI (9 outlets) will be taken over by Porsche Holding Salzburg. The ownership structure of Škoda Auto and Volkswagen Financial Services will also change, with Volkswagen AG taking over Kulczyk Holding’s 49% stake in Škoda Auto Polska S.A. At the same time, Volkswagen Financial Services and Volkswagen Bank will acquire from KPI respective minority shareholdings in Volkswagen Leasing Polska and Volkswagen Bank Polska.
The above decisions must still be approved by anti-trust and competition authorities.
KPI Polska was founded in 1995.Its Polish dealership network comprises 176 showrooms represented 23 Audi dealers, 92 Škoda dealers, 52 Volkswagen dealers and 2 Porsche dealers.