Anika Begay
By Ludwig Burger
FRANKFURT (Reuters) – Porsche Automobil Holding SE said on Monday it is part of a group of investors that is buying a 35 percent stake in Flix SE, owner of Greyhound services in North America and FlixBus in Europe.
Porsche, which controls German automaker Volkswagen (ETR:), said it had made a co-investment with private equity firm EQT (ST:) and investor Klaus-Michael Kuehne, among others, and that its stake in Flix SE was worth a “low million” euros.
In July, EQT announced a joint investment of a 35% stake in Flix, listing Kuehne as a co-investor but not Porsche.
A person familiar with the deal told Reuters in July that the group was paying more than 1 billion euros ($1.1 billion) in total, meaning Porsche’s stake would be very small.
The deal values the unlisted bus operator at more than €3 billion, sources said at the time.
Porsche said in a statement Monday that the collaboration with leading private equity investors was part of its strategy and that the deal marked its first investment “in a platform provider in the consumer segment.”
