By Ludwig Burger
FRANKFURT (Reuters) -Porsche Automobil Holding SE mentioned on Monday it’s a part of an investor group that’s taking a 35% stake in Flix SE, proprietor of Greyhound companies in North America and FlixBus in Europe.
Porsche, which controls German carmaker Volkswagen (ETR:), mentioned it was co-investing with personal fairness agency EQT (ST:) and investor Klaus-Michael Kuehne, amongst others, and that its stake in Flix SE was value a “low double-digit million” euros.
EQT in July introduced the joint funding of a 35% stake in Flix, on the time disclosing Kuehne as co-investor however not Porsche.
An individual accustomed to the deal informed Reuters in July that the group was paying greater than 1 billion euros ($1.1 billion) between them, which implies Porsche’s stake can be very small.
The deal values the unlisted bus operator at greater than 3 billion euros, the sources mentioned on the time.
Porsche mentioned in its assertion on Monday that cooperating with main personal fairness traders was a part of its technique and that the deal marked its first funding “in a platform supplier within the client section”.