The supervisory boards of Volkswagen and Porsche have agreed to Volkswagen's takeover of sports car maker Porsche. The agreement ends several years of a fierce power struggle between the two automakers.

Porsche was initially hoping to take over the much larger Volkswagen but failed to do so because of a lack of funds. Porsche will now be integrated into Volkswagen as its tenth brand. As a first step, Volkswagen will acquire a 49.9 percent stake for 3.9 billion euros by the end of this year. Volkswagen already owns Audi, Skoda, Bentley, Seat and Lamborghini. After completing the Porsche take-over in 2010, the German company aims to overtake Japan's Toyota as the world's number one car maker.

A Porsche 912 (Photo: Wikimedia)