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Volkswagen turns down eye-watering Lamborghini bid

Volkswagen Group has rejected an eye watering offer for its Lamborghini brand.

Volkswagen turns down eye-watering Lamborghini bid
By Tom Gibson
May 29, 2021
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Switzerland’s Quantum Group made an offer of $9.2 billion / €7.5 billion for the iconic Italian carmaker, but this was rejected instantly by VWG with a spokesperson telling America’s CNN; "Lamborghini is not for sale, full stop."

Quantum Group is an investment firm and said in a letter of intent that it planned to retain the brand's existing management, and offered to protect existing jobs for five years. It also said it would create up to 850 new jobs by establishing an "innovation centre" in Germany.

The move is likely to have been orchestrated by Rea Stark, a founding partner of Quantum Group and also a co-founder of Piech Automobile with Toni Piech. That’s relevant as Toni is the son of former Volkswagen Chairman Ferdinand Piech, who oversaw VWG’s purchase of Lamborghini in 1998.

The links don’t stop there, the chairman of Piech Automobile is former Volkswagen CEO Matthias Müller.

We don’t suspect this story ends here… 

By Tom Gibson
May 29, 2021
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