Deals
Volkswagen Selects Banks for Porsche Sports Car IPO
- Goldman, BofA, JPMorgan and Citi are chosen to lead offering
- Sports-car listing could be one of the biggest IPOs in Europe
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Volkswagen AG has chosen lead banks for its blockbuster listing of iconic sports-car maker Porsche in what could be one of Europe’s biggest initial public offerings this year, people with knowledge of the matter said.
Europe’s largest automaker has picked American firms Goldman Sachs Group Inc., Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. as joint global coordinators for the proposed share sale, the people said. The listing could value Porsche at as much as 90 billion euros ($100 billion), some of the people said, asking not to be identified because the information is private.