VW to pick buyer of Everllence over next few weeks, sources say
Final Bids and Selection Process for Everllence
(Refiles to add correct EQT RIC)
Timeline and Bidding Details
Berlin, June 1 (Reuters) - Final bids for a majority stake in engine maker Everllence are due Tuesday and owner Volkswagen plans to pick a buyer over the next few weeks, people familiar with the matter told Reuters on Monday.
Contenders for Everllence
• CVC, Bain Capital and EQT, which has joined forces with Volkswagen shareholders Porsche SE and Qatar, are final contenders
Company Overview and Growth Segments
• Everllence, formerly MAN Energy Solutions, is the market leader in large marine engines and has identified generators for AI data centers as a growth segment
Valuation and Board Dynamics
• The company is valued at 8-9 billion euros, according to the sources
Supervisory Board Influence
• Voice of employee representatives on the supervisory board could be decisive
• The representatives of Porsche SE and Qatar on the VW Supervisory Board are expected to abstain from the final vote, according to sources
Comments from Stakeholders
• Volkswagen, Porsche SE, CVC and Bain declined to comment. EQT and representatives from Qatar could not immediately be reached.
(Reporting by Christina Amann und Christoph Steitz, writing by Lena Rueckerl, editing by Ludwig Burger)