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VW Eyes Selling Assets that Deliver 20% of Its Revenue
Volkswagen AG aims to sell noncore assets that currently generate about 20% of the company’s current revenue, CEO Matthias Mueller tells The Wall Street Journal.
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Volkswagen AG aims to sell noncore assets that currently generate about 20% of the company’s current revenue, CEO Matthias Mueller tells The Wall Street Journal.
Mueller wasn’t specific. But he emphasizes the company is intent on moving forward with targeted asset sales. “We’re not going to let anyone tell us which decision to make,” he declares.
VW is nearing such a decision on motorcycle maker Ducati Motor Holding SpA. The company reportedly has attracted as many as five would-be bidders.
Mueller dismisses reports that talks to sell Ducati have stalled. He claims the negotiations are merely complicated by VW’s governance structure, which involves the state of Lower Saxony ( a major shareholder) and Germany’s IG Metall trade union (which controls half the carmaker’s board seats).
Mueller also is coy about suggestions by some investors that VW should consider spinning off such brands as Audi and Porsche. He acknowledges “we discuss these things” but declines to elaborate.
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