Login
My Garage
New hero

Volkswagen turns down eye-watering Lamborghini bid

By Tom Gibson | May 29, 2021

Share

Why not leave a comment?

See all | Add a comment

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

Volkswagen turns down eye-watering Lamborghini bid

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… 

Related Articles

New speed cameras coming to the UK: Here’s what you need to know
Let’s take a look at three new types of cameras already in operation in the UK – and another that could be coming soon.
Nov 30, 2023
Is the money from scrapped HS2 going to be used for the roads?
This funding has the possibility of making a significant difference on UK roads, but how much is likely to be set aside, and what is the...
Nov 30, 2023
Keyless cars: What are they, how do they work and how can you prevent theft?
Keyless cars continue to be prone to theft
Nov 28, 2023
Fuel prices fall sharply after retailers panic when market watchdog highlights their greed
The AA has reported that £2 was almost instantly knocked off the cost of a tank of petrol after the Competition and Markets Authority...
Nov 28, 2023