Porsche's financial nightmare may soon be over, as the country of Qatar is in talks to take a 25% stake in the troubled automaker.

Porsche's financial nightmare may soon be over, as the country of Qatar is in talks to take a 25% stake in the troubled automaker.

An agreement between Porsche and the Qatar government prevents either party from disclosing details, but Qatar's prime minister, Sheikh Hamad bin Jassem al-Thani, said negotiations are continuing.

As we have previously reported, Porsche has accumulated a massive 9 billion euro ($12.5 billion) debt in their failed attempt to takeover Volkswagen. With the takeover off the table, Porsche has attempted to merge with VW but their debt has proved to be a major sticking point.

Despite the would-be marriage, Volkswagen has distanced themselves from the issue by stating they stand "behind (Porsche's) talks with an investor" and "Qatar ... will only be dealt with by Porsche."

 

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