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VW Snubs Deutsche Bank For Lead Role On One of Germany’s Biggest-Ever IPOs

Deutsche Bank pitched with CEO Sewing, but missed top role
VW chooses four U.S. firms for $100 billion Porsche unit IPO

Porsche’s IPO could value the automaker at as much as 90 billion euros ($100 billion.) — Porsche’s IPO could value the automaker at as much as 90 billion euros ($100 billion.)
Photographer: Liesa Johannssen-Koppitz/Bloomberg

By

Aaron Kirchfeld and

April 1, 2022, 10:33 AM UTCUpdated onApril 1, 2022, 5:13 PM UTC

The initial public offering of iconic sports-car maker Porsche, which is poised to be one of Germany’s biggest-ever IPOs, is missing the country’s biggest bank, Deutsche Bank AG.

Volkswagen AG picked an all-American lineup, snubbing European banks, to lead the planned share sale, which could value Porsche at as much as 90 billion euros ($100 billion), according to people familiar with the matter.