Volkswagen’s Engine-Making Company Sold to US Investment Firm for €7.4 Billion
- 11 hours ago
- 1 min read
The European Commission has approved the sale of Volkswagen’s majority stake in engine manufacturer Everllence to US investment firm Bain Capital for €7.4 billion.
The Augsburg-based company, which rebranded as Everllence a year ago, is one of the world’s leading manufacturers of large engines, turbomachinery and decarbonization solutions.
According to its own figures, the company employs approximately 16,000 people and generates around €4.9 billion in annual revenue.
Source: dpa / ET, MUKPhoto: Reuters
