Porsche Automobil Holding SE, German luxury car maker has informed that company's supervisory board collectively propped up the executive board's decision to seal discussions with Qatar Holding LLC on a lifting of Porsche capital.

Board's current move has paved the way for the Gulf state of Qatar to take a stake in the company prior to creation of integrated group with German automaker Volkswagen AG.

Debt-ridden needs urgent financial injection from Qatar to evade the possible vending of its most-important sports-car operations to Volkswagen.

At present, the company the Porsche and Piech families possesses 100 percent voting rights in the company.

Porsche holds 51 percent stake in Volkswagen, making it company's majority shareholder.

The company is seeking a capital increase worth euro5 billion, but it did not clarify if the euro5 billion would be injected by the Qatar.