Quantum Group won’t take no for an answer – US$9.1 billion offer to buy Lamborghini from VW still stands

Some people won’t take no for an answer. Switzerland’s Quantum Group is not backing down from its intent to purchase Lamborghini from the Volkswagen Group, even after the German giant firmly said ” “Lamborghini is not for sale, full stop.”

Quantum boss Rea Stark told Reuters: “Of course our offer is still valid. After all we have carefully weighed and thought through our decision for Lamborghini and the attached offer and concept. And if there is willingness to negotiate – whether that’s investments, guarantees or the purchase price – then of course we are still prepared.”

The Swiss firm had put out a non-binding offer to buy the Italian luxury auto brand for 7.5 billion euros (US$9.1 billion, or RM37.8 billion), and includes a five-year supplier agreement with Audi where there would be sharing of intellectual property and electric vehicle technology.

In addition to the initial offer, Quantum has offered 1 to 2 billion euros (RM5 billion to RM10 billion) to cover investments and guarantees for jobs and sites at Lamborghini. It pledged to retain the existing management and have the jobs of current employees protected for five years.

“We deem this a fair first offer, it’s a valuation that is common for luxury brands,” Stark added. When asked what he thought of the not-for-sale response from Volkswagen and Audi, he said “the message was clear,” and that “one has to accept that.” Stark is a co-founder of Piech Automobile with Toni Piech, the son of former Volkswagen chairman Ferdinand Piech.

The post Quantum Group won’t take no for an answer – US$9.1 billion offer to buy Lamborghini from VW still stands appeared first on Paul Tan's Automotive News.

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