The European Union has given its approval for Volkswagen's multi-billion euro deal, which involves the sale of a 51% stake in its large engine subsidiary, Everllence, to US financial investor Bain Capital.

Automaker Volkswagen is selling a majority stake in its subsidiary Everllence to financial investor Bain, a move aimed at providing flexibility for its major restructuring efforts.

Volkswagen is reportedly close to finalizing a multi-billion dollar deal for the sale of its Everllence ship engine division. This significant transaction is expected to reshape the company's portfolio.

Private equity firms Blackstone, EQT, and CVC are reportedly among the bidders vying to acquire Volkswagen's Everllence unit.

The sale of Volkswagen's Everllence unit suggests that even struggling automotive manufacturers may possess untapped value within their assets.

Volkswagen is set to sell a majority stake in its Everllence engine unit to Bain Capital for $8.4 billion, marking a significant corporate transaction.

Volkswagen is reportedly narrowing down its choices for its Everllence unit, with EQT Group, CVC, and Bain Capital said to be on the shortlist.

Private equity firms Blackstone, EQT, and CVC have submitted offers to acquire Volkswagen's Everllence, as reported by the Financial Times.

Volkswagen's partial sale of its large engine manufacturer Everllence has generated much-needed funds for the group, but the decision has also brought renewed attention to weaknesses within its leadership structure.

Volkswagen has reportedly received preliminary bids for its diesel engine business, Everllence, with offers around $9.4 billion.