保时捷两大家族股东有望化解纾困纷争

Porsche's family owners are poised to settle their feud over a rescue of the ailing German sports carmaker with a compromise deal that would wipe out almost all its net debt.

拥有德国跑车制造商保时捷(Porsche)的两大家族，正准备达成一份折衷协议，以消除该公司几乎所有净债务，从而化解双方关于如何解除该公司困境的纷争。

People close to the situation told the Financial Times that the Porsche and Piëch families, which co-own the sports carmaker, are working on a package of measures to reduce its net debt of more than €10bn ($14.1bn) “as completely as possible”.

知情人士告诉英国《金融时报》，共同拥有保时捷公司的保时捷家族和皮耶希(Piech)家族，正拟定一揽子措施，以“尽可能彻底”地减轻该公司目前超过100亿欧元（合141亿美元）的净负债。

They said the combination of a sale of half the sports car business for as much as €4bn to Volkswagen, a €5bn capital raising and the sale of options that can be converted into VW shares was seen as a possible solution to the debt problems.

知情人士表示，一个潜在的债务解决方案包含了以下措施：将一半跑车业务以40亿欧元出售给大众(Volkswagen)；融资50亿欧元；发行可转换为大众股票的期权。

The Qatar Investment Authority, a Middle East sovereign wealth fund, and the two families could inject cash and assets to strengthen the balance sheet. The Porsche and Piëch clans could also bring their fully owned Salzburg Holding – one of the world's largest car dealerships – into Porsche.

中东主权财富基金卡塔尔投资局(Qatar Investment Authority)和两大家族可能向保时捷注入现金和资产，以增强该公司的资产负债表。此外，保时捷家族和皮耶希家族可能将他们全资拥有的Salzburg Holding并入保时捷公司。Salzburg是全球最大的汽车经销商之一。

“Everything is still open; no decision has been taken,” a source close to the owners said. “But a combination of those cures is very likely.”

一位接近两大家族的人士表示：“一切都有可能；目前尚未作出决定。但综合采取这些措施的可能性很高。”

A deal would end the fierce row over Porsche's future – much of it played out in public – between Ferdinand Piëch, VW's chairman and a large Porsche shareholder, and Wolfgang Porsche, chairman.

双方如果达成协议，将结束大众董事长、保时捷大股东费迪南德·皮耶希(Ferdinand Piech)与保时捷董事长沃尔夫冈·保时捷(Wolfgang Porsche)关于保时捷前途的激烈纷争，双方的矛盾往往公开表露。

Mr Porsche had favoured only raising fresh capital from QIA and the family owners, while Mr Piëch aimed to sell Porsche's sports car business to VW. The agreement would probably be followed by a full merger of the two companies. It would place a question mark, too, over the future of Wendelin Wiedeking, Porsche's headstrong chief executive who has clashed with VW's management, works council and Mr Piëch.

此前，沃尔夫冈·保时捷仅倾向于从卡塔尔投资局和两大家族融资，而费迪南德·皮耶希意在将保时捷跑车业务售予大众。在双方达成协议后，两家公司可能实行全面合并。这将给保时捷强硬的首席执行官德林·魏德金(Wendelin Wiedeking)的去留打下一个问号。魏德金与大众管理层、劳资委员会和皮耶希均不和。

Porsche denied a German media report that Mr Wiedeking was about to leave.

保时捷否认了德国媒体有关魏德金将会离职的报道。

译者/岱嵩