Volkswagen to sell 51% stake in Everllence engine division for approximately $9.1 billion
Type: Sale · Technology: Industrial · Country: Germany · Value: $9.1B · Announced: 2026-06-17
Volkswagen is selling a 51% stake in its Everllence engine division, formerly known as MAN Energy Solutions, in an auction process valued at approximately $10 billion (€8.5 billion). Private equity firms EQT AB, CVC Capital Partners, and Bain Capital are leading three separate buyer groups, which also include sovereign wealth funds, pension capital, and industrial backers. The sale has been complicated by EQT's partnership with key Volkswagen shareholders, including Porsche Automobil Holding and the Qatar Investment Authority, leading to concerns about potential conflicts of interest. Volkswagen plans to retain a 49% stake in Everllence following the transaction and has expressed a preference for a future public listing. The business manufactures large-scale industrial engines and turbines used in marine propulsion and power generation, with demand supported by growing energy needs linked to data centers and industrial infrastructure.
Counterparties
- Volkswagen (Seller)
- CVC Capital Partners (Buyer)
- Bain Capital (Buyer)
- Porsche Automobil Holding (Investor)
- EQT (Buyer)
- Qatar Investment Authority (Investor)