Volkswagen has said it is on track to finalise the full takeover of sports car manufacturer Porsche by the end of the month.
The German car firm has said Porsche will become a fully-integrated brand of the Volkswagen group as of 1 August.
The deal is likely to reduce costs and boost VW's earnings as it seeks to become the world's biggest car maker.
Volkswagen has agreed a deal to buy the remaining 50.1% stake in Porsche it doesn't already own for €4.46bn plus one VW common share.
It is already Europe's biggest car maker, including brands such as Audi, Volkswagen, Seat, Bugatti, Bentley and truck makers MAN and Scania.
The deal is also set to restructure the companies' complicated ownership ties.
