Volkswagen AG, the company that produces the Beetle, Passat, Jetta and Golf, has, after almost three years of legal wrangling, come to terms to buy the half of Porsche AG that it does not already own.

The deal, which has VW paying Porsche $5.65 billion for the 50.1% of the company it does not already own, will add Porsche to VW's stable of luxury car brands, which already includes Audi, Bentley, Lamborghini and Bugatti.

The deal was greeted warmly by investors, who drove up VW shares on Thursday.

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