Porsche SE, Volkswagen AG’s largest shareholder, reported a surge in 2012 net income after selling the remainder of its automaking business to VW last year.
Profit climbed to $10.1 billion from 59 million euros in 2011, the Stuttgart, Germany-based holding company said in a statement Wednesday. Porsche received a cash inflow of $5.9 billion from the sale of the final 50.1 percent of the auto unit to VW.
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