Volkswagen AG Seeks Final Bids for Engine Unit Valued at $10 Billion

Deep News06-17

According to media reports citing informed sources, Volkswagen AG has requested that three competing consortiums submit their final offers next week for the sale of its engine subsidiary, a deal valued at approximately $10 billion.

The bidding groups are backed by funds from European billionaire families, as well as investors from Qatar and Canada.

Volkswagen is attempting to address external concerns that EQT may have an unfair advantage, as the latter had previously partnered with Volkswagen AG's major shareholder, Porsche Automobil Holding SE, and the Qatar Investment Authority to participate in the bid. Volkswagen, Porsche, and EQT have all declined to comment on the matter.

In April, it was reported that Volkswagen had shortlisted EQT Group, CVC, and Bain Capital as final contenders in the auction for its engine unit, Everllence.

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