(Bloomberg) — Volkswagen AG reiterated plans to maintain ownership of Lamborghini after a car magazine said it was offered 7.5 billion euros ($9.2 billion) for the brand.

A Volkswagen spokesman said there’s been no change in the group’s position to retain the Lamborghini brand. Autocar reported earlier Tuesday that the company had received the offer from Quantum Group AG, a new Zurich-based holding company that has formed a consortium with London-headquartered investment firm Centricus Asset Management.

VW took a step in November toward preparing Lamborghini and its Italian motorcycle brand Ducati for strategic options such as an initial public offering or sale, but announced a month later it was committed to keeping them in the fold. The assurances were made as part of a broader resolution of conflicts between Chief Executive Officer Herbert Diess and key stakeholders including labor leaders.

Lamborghini is owned by the VW group through its Audi subsidiary. A spokesperson for Audi also said it is not for sale.

More stories like this are available on bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

©2021 Bloomberg L.P.

(305) 707 0888