FRANKFURT (Reuters) -Porsche SE, Volkswagen's biggest shareholder, is considering investing in the carmaker's Everllence diesel engine division that has been put up for sale, the Financial Times
Porsche SE Mulls Investment in Volkswagen's Everllence Division
FRANKFURT (Reuters) -Porsche SE, Volkswagen's biggest shareholder, is considering investing in the carmaker's Everllence diesel engine division that has been put up for sale, the Financial Times reported, citing people familiar with the matter.
Volkswagen, which has said in the past that it is exploring strategic options for Everllence, could kick off a divestment process for Everllence early next year, the report said, adding the asset has also drawn preliminary interest from Sweden's EQT.
Volkswagen is planning to spin off a majority in Everllence, the report said.
A person familiar with the matter said that the division could be valued at 6 billion euros to 8 billion euros ($7.0 billion to $9.3 billion) in a transaction.
Volkswagen declined to comment, only reiterating that it was reviewing options for the business.
Porsche SE, the holding firm of the Porsche and Piech families, declined to comment.
($1 = 0.8575 euros)
(Reporting by Alexander Huebner and Christina Amann; Writing by Christoph Steitz; Editing by Thomas Escritt)
