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Blackstone, EQT and CVC bid for VW's Everllence unit - report
(Sharecast News) - Volkswagen has reportedly attracted bids from private equity funds including Blackstone, EQT and CVC for its Everllence shipping engines division. The deadline for initial offers for the business, formerly known as MAN Energy Solutions, expired last week. The division, which produces shipping engines and heat pumps, is being valued at between €5bn - €6bn by prospective buyers, the Financial Times reported citing unnamed sources.
Other buyout groups to have previously shown interest for the unit include buyout firm CD&R and industrial carve-out specialist KPS, the people said, adding that some rival companies had also explored bids.
VW is planning to spin off a majority stake in Everllence while keeping a significant minority holding as it tries to restructure its business amid weaker demand and growing competition from Chinese carmakers.
For 2025, Volkswagen said it generated better-than-expected net cash flow of €6bn from its automotive division in 2025 as it aims to cut costs.
Representatives for Volkswagen, Blackstone, EQT, CVC, CD&R and KPS declined to comment, the report stated.
Reportig by Frank Prenesti for Sharecast.com
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