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US: VW allegedly selling large engine unit

By  |  July 21, 2019

US-based diesel engines maker Cummins has made an indicative offer for Volkswagen’s (VW) MAN Energy Solutions unit, people close to the matter told Reuters on Friday, July 19, as the carmaker seeks to slim down its portfolio of disparate assets.

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    VW announced in May that it was exploring the possibilities of selling or forming a partnership for its MAN unit.

    A Volkswagen spokesman on Friday reiterated that VW is reviewing all options for the asset, but declined to comment further on Cummins.

    Although VW has not yet appointed advisory banks for the sale, it has approached several companies to gauge their interest in the asset, which is expected to fetch about €3 billion, the sources said.

    Full Content: Reuters

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