Volkswagen will sell a majority stake in its subsidiary Everllence, which manufactures large diesel engines, to the financial group Bain Capital. The German automotive group is set to receive €7.4 billion from the transaction, roughly 179 billion crowns. The agreement was announced on Thursday, June 25, and concerns the company formerly known as MAN Energy Solutions. e15.cz ↗
The Wolfsburg-based group explains the sale as an effort to focus more on its core business. Everllence produces engines and related technologies for industrial use and is among the assets not directly tied to Volkswagen Group's core automotive production. The acquisition of a majority stake by the American investor thus fits into the group's broader effort to simplify its structure and raise capital. n-tv ↗
According to available information, Everllence's German plants are to be preserved at least until 2030. This applies to the sites in Augsburg, Oberhausen, Berlin, Hamburg, and other German facilities mentioned in connection with this division. Preserving these operations is particularly important for employees and regions where large-engine manufacturing has a long industrial tradition. Die Zeit ↗
The transaction comes at a time when Volkswagen is grappling with cost pressures and adapting to changes in the automotive industry. The sale of Everllence is meant to give the group financial breathing room while also allowing the new majority owner to develop the company outside the automaker's direct control. novinky.cz ↗
Volkswagen to Sell Majority Stake in Everllence to Bain Capital
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Sources (6)
Volkswagen prodá podíl v divizi dieselových motorů za 179 miliard
novinky.cz
| 09:11 25.06.
VW prodá firmě Bain za 7,4 miliardy eur podíl v divizi dieselových motorů
seznamzpravy.cz
| 08:57 25.06.
Volkswagen-Konzern: VW verkauft Mehrheit des Motorenbauers Everllence an Investor
Die Zeit
| 09:50 25.06.
Deal mit Finanzinvestor: VW verkauft Mehrheit an Motorenbauer Everllence an Investor
Tagesspiegel
| 08:10 25.06.
Volkswagen prodá většinu divize dieselových motorů. Od Bain Capital získá 179 miliard
e15.cz
| 09:15 25.06.
US-Investor greift zu : Volkswagen versilbert Motorentochter
n-tv
| 11:34 25.06.
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