The Volkswagen Group has been honored by the “Corporate Finance Award 2012” presented by Börsen-Zeitung. The award was received by Hans Dieter Pötsch, Member of the Board of Management responsible for finance and controlling of Volkswagen Aktiengesellschaft, in Frankfurt am Main on Thursday.
The jury, which consisted of Claus Döring (Editor-in Chief of Börsen-Zeitung), Prof. Dr. h.c. Roland Berger, Prof. Dr. Andreas Cahn (Institute for Law and Finance, University of Frankfurt), Prof. Dr. Reinhard Marsch-Barner (Of Counsel Linklaters) and Dr. Lutz Raettig (Chairman of the Supervisory Board of Morgan Stanley Bank), gave as the reasons for its decision the successful creation of the integrated automotive group with Porsche, the expansion of its interest in the commercial vehicles sector through the acquisition of a controlling stake in MAN SE and the successful placing of a mandatory convertible note. “However different the transactions may have been, they have one thing in common; they have placed Volkswagen on a sound strategic and financial footing for achieving its objective of becoming the world’s leading automaker by 2018. And each one of these three steps will make quite a significant contribution in this context”, said CFO Pötsch, who added that the successful completion of these transactions and the award were well-earned rewards for the teams concerned, who had worked hard for them. ”In addition, we have taken a further step in safeguarding the sustainable success of our Group”, Pötsch added. The Corporate Finance Award honors outstanding transactions in terms of corporate strategy and financing.