Bain Capital has emerged as the winner in the competitive bidding process for a majority stake in Everllence, the marine engine subsidiary of Volkswagen Group.
The US private equity firm secured the deal after a weeks-long auction, effectively ending the search for a buyer for the Augsburg-based company.
Handelsavisen previously reported that Volkswagen's board of directors was scheduled to deliberate on the sale of the majority stake this week.
The transaction represents a major milestone in Volkswagen's ongoing strategy to streamline its portfolio and divest non-core assets.
By selling a controlling interest in Everllence, VW aims to focus resources on its primary automotive and electrification initiatives while unlocking value from its specialized industrial units.
Handelsavisen previously reported that Volkswagen's board of directors was scheduled to deliberate on the sale of the majority stake this week.
The confirmation of Bain Capital as the buyer aligns with those expectations, bringing closure to a transaction that had been closely watched by investors tracking VW's restructuring efforts.