Goldman Sachs, Freshfields working on possible Porsche IPO — report

Goldman Sachs, Freshfields working on possible Porsche IPO — report
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FRANKFURT (Oct 21): Investment bank Goldman Sachs and law firm Freshfields are among advisers working on a possible listing of Volkswagen's luxury unit Porsche AG, manager magazin reported on Thursday, without saying where it obtained the information from.

Goldman and Freshfields both declined to comment. Volkswagen had no immediate comment.

People familiar with the matter told Reuters in May that the Porsche and Piech families, who control largest shareholder Porsche SE, were prepared to take a direct stake in Porsche AG should the luxury carmaker be separately listed.

Asked about the idea of a Porsche listing, talk of which has surfaced regularly in recent years, Volkswagen chief executive Herbert Diess in July said that while the company continued to review its set-up, its battery ramp-up was the priority.