Morningstar

Volkswagen to Sell Majority Stake in Engine Unit to Bain Capital

Provided by Dow Jones

By Megan Cheah 




  Volkswagen is selling a 51% stake in engine subsidiary Everllence to Bain Capital, seeking to streamline its investment portfolio. 



  The German automaker will retain a 49% stake in Everllence and stay on as a major shareholder in the medium term, the company said Wednesday. The proceeds of roughly 7.40 billion euros, equivalent to $8.40 billion, are derived from the 51% share and expected debt after the transaction completes. 



  Engine and turbo machinery manufacturer Everllence, formerly known as MAN Energy Solutions, provides propulsion, decarbonization and efficiency solutions for the maritime, energy and industrial sectors. It was acquired by Volkswagen in 2018 and has a book value of around 3.4 billion euros on Volkswagen's balance sheet as of end-May. 



  The new ownership structure is meant to boost Everllence's growth in the global shipping, data-center and energy sectors, said Volkswagen. Everllence's German sites will be retained under the new structure until at least the end of 2030 and compulsory redundancies will be ruled out during this period. 



  The deal should also allow the German automaker to reduce the complexity of its structures and strengthen its financial position and flexibility, said Arno Antlitz, Volkswagen's chief financial officer and chief operating officer. 



  The parties aim to complete the deal by end 2026, subject to regulatory approval. 





  Write to Megan Cheah at megan.cheah@wsj.com 





  (END) Dow Jones Newswires



  June 25, 2026 00:33 ET (04:33 GMT)


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