Volkswagen said Thursday it will sell a 51 percent stake in its marine engine unit Everllence to US private equity group Bain Capital for 7.4 billion euros, or 8.4 billion dollars. The German carmaker will retain a 49 percent stake and remain a major shareholder in the medium term. The deal includes safeguards for Everllence's five German sites, ruling out compulsory redundancies until the end of 2030. The sale is part of Volkswagen's sweeping overhaul to slim down operations, cut 50,000 jobs in Germany, and strengthen its financial position amid weak European demand and fierce Chinese competition. The transaction is subject to staff consultations and regulatory approvals and is expected to close by the end of 2026.
Volkswagen AGSells 51% stake in marine engine unit for €7.4B, strengthens financial position.
Volkswagen AG VZO O.N.Same as Volkswagen AG; sale improves financial position.
Majority stake sold to Bain Capital; future strategy and ownership unclear.