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Report: VW May Sell MAN Large Diesel Unit
Volkswagen Group is testing buyer interest in its MAN Energy Solutions unit, which makes large diesels for ships and stationary power generators.
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Volkswagen Group is testing buyer interest in its MAN Energy Solutions unit, which makes large diesels for ships and stationary power generators.
Sources tell Reuters that VW’s preliminary overtures have been to such rivals as Cummins Inc. in the U.S., Wartsila OA in Finland and several private equity firms. VW believes the MAN unit, which also makes turbochargers used in the energy industry, would be worth about €3 billion ($3.4 billion).
Reuters says VW has not yet chosen an adviser for a potential sale or otherwise launched a formal sales process. Last year MAN Energy Solutions was reassigned from MAN to VW when Volkswagen merged its MAN, Scania and VW commercial vehicles unit to form Traton AG.
In March, VW postponed plans for an initial public offering for Traton, citing market jitters over the U.S.-China trade war and general economic conditions.
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