VW purchase triggered profit growth of Porsche

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Volkswagen agreed on July 4 to purchase a 50.1 percent stake in the brand from Porsche SE for 4.46 billion euros, assuming full ownership of the sports-car maker. The transaction is due to close next week. Porsche AG maker being purchased by Volkswagen said first-half profit jumped 21 percent on demand for a new generation of the 911. Operating profit rose to 1.26 billion euros ($1.55 billion) from 1.05 billion euros a year earlier...