Blackstone (BX) and Japanese industrial equipment manufacturer Yanmar are prospective bidders for a majority stake in Volkswagen's heavy diesel engine unit Everllence, Bloomberg reported Monday, citing sources familiar with the matter.
Other parties that are in the mix include Brookfield Asset Management (BAM) and Turkish energy firm Karpowership, which could partner with private equity firms for a bid, the report said.
There is no certainty which potential bidders will move forward with offers for the unit, the report said.
First-round bids are expected by Feb. 12, and the Volkswagen unit could have a valuation of 5 billion euros ($5.93 billion), the report said.
Blackstone, Yanmar, Brookfield, and Karpowership did not immediately reply to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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