The Volkswagen Financial Services AG (VWFS) competitive positioning was negatively affected by the regulatory responsibilities imposed by European Central Bank (ECB). ECB Regulations did not fit business model and global footprint of VWFS AG. Thus, the purpose of this work project is to study the solution adopted by VWFS AG to overcome this problem – Spin-off of VWFS AG. This project takes the form of a case study, being divided between the case narrative and teaching notes. Initially, the history of VWFS AG and VWFS Portugal will be presented. Subsequently, the motivations, risks and benefits behind the restructuration will be analyzed
