Had to google it, but it looks like a new production zkm 611. For takedown, there's a cross bolt at the rear of the action, slotted for a coin or something similar. Remove the crossbolt, then while holding the forearm pull back on the buttstock. You'll wind up with a barrel and reciever in one hand, buttstock and trigger group in the other. Not as compact as rifles that detach barrel from receiver, but probably stronger and more accurate.
Dugasgunner, where did you pick yours up? I'd like to pick up some .22 wmr mags and see if they'll work in my Brno 611.
P.S. tried googling ppk rifles, keep getting pages and pages of Waltherpistols!