Porsche acquires strategic stakes in Varta

The Federal Cartel Office has given Porsche AG the green light to acquire a minority stake in Varta. At the same time, Porsche obtains the majority shares and assumes sole control over the business unit of the battery manufacturer specializing in lithium-ion cells for electric vehicles. Cartel Office President Andreas Mundt explained that the merger control review primarily aimed to exclude potential competition concerns. Nevertheless, the actual execution of the transaction depends on additional factors that lie outside the scope of antitrust law. However, Varta remains involved as a minority shareholder in the new entity for large-format lithium-ion cells, V4Drive Battery GmbH. With this strategic step, Porsche strengthens its position in the rapidly growing e-mobility market and invests in independent battery production to further advance technological development.