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Updated · Bloomberg · May 12QIA Joins EQT Bid for VW's Everllence Ahead of Early June Offers
1 articles · Updated · Bloomberg · May 12
- EQT is lining up the Qatar Investment Authority for a binding bid on Volkswagen’s Everllence large marine engine unit, with offers due in early June.
- The Swedish buyout firm is bidding through a consortium that also includes Porsche Automobil Holding SE, according to people familiar with the matter.
- QIA and Porsche SE are both major Volkswagen shareholders, giving the EQT-led group deep ties to the seller as the auction moves into its next round.
Why are Volkswagen's top shareholders bidding to buy a unit the carmaker itself is desperate to sell? Could Volkswagen's old engine unit become a secret powerhouse for the booming AI data center industry?