Bank of America 2010 Annual Report Download - page 19

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17
Big Deal To support the continued global expansion of the Volkswagen Group, Chief Financial Officer Hans Dieter Pötsch (above) worked
with the capital markets experts at Bank of America Merrill Lynch. With the team’s knowledge and guidance, the world’s No. 3 car-maker
raised 4.1 billion in one of the industry’s biggest capital increases ever. The transaction enhanced Volkswagen’s balance sheet and secured
funding for the planned creation of an integrated automotive group with Porsche
two key initiatives to becoming the most successful auto-
motive company globally by 2018. Despite the challenging economy, Volkswagen has continued to invest in growth
including the creation
of 2,000 direct and about 10,000 indirect jobs in the U.S. via a new plant in Chattanooga, Tennessee to support its expansion in the region.
The Volkswagen Group has emerged from the global economic downturn stronger than ever before: in 2010, it delivered 7.2 million vehicles
to its customers, a new company record.
Equity & Debt
Capital Raising
Corporate Finance &
Restructuring
Financial Sponsors Derivatives & Foreign
Exchange