Lamborghini owner Volkswagen Group said Wednesday that the brand is not for sale following reports that it had received a €7. 5 billion ($9. 2 billion) offer from Switzerland’s Quantum Group.
UK publication Autocar reported on Tuesday that Quantum Group sent a letter of intent to Volkswagen Group earlier this month, laying out terms for the purchase of Lamborghini.
Quantum Group, an investment firm, said it planned to retain the brand’s existing management, and offered to protect existing jobs for five years, according to Autocar.
Rea Stark, a founding partner of Quantum Group, is also co-founder of Piech Automobile with Toni Piech, the son of former Volkswagen Chairman Ferdinand Piech, who oversaw Volkswagen’s purchase of Lamborghini in 1998.
Automotive News Europe confirmed with Audi that Lamborghini “is not the subject of any discussion within the group. Lamborghini is not for sale.” In addition to the stated amount, Quantum offered Lamborghini employees a five-year job guarantee. It also wanted to assume control of Lamborghini’s management team from VW, but it didn’t want to cut ties entirely.
