Bain Capital has agreed to acquire a majority stake in Volkswagen’s marine engine business Everllence in a transaction valuing the business at €7.4bn, according to a report by the Financial Times.
Volkswagen will retain a 49% stake in the business following completion of the transaction. The German carmaker said the sale supports would allow it to focus on its core automotive operations.
Bain prevailed against competing bids from private equity groups including CVC and EQT. The process attracted...
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