Volkswagen requests all parties to submit sealed final bids for the engine business

Glonghui, June 17 — According to sources cited by the Financial Times, Volkswagen has notified three acquisition consortiums to submit sealed final bids next week to compete for its engine business division, valued at 10 billion USD. Investors behind these consortiums include European wealthy families, as well as capital from Qatar and Canada. Previously, EQT, together with Porsche Holding and Qatar Investment Authority, participated in the bidding. There are market concerns that EQT may have an unfair competitive advantage, and Volkswagen’s move aims to address these concerns. Volkswagen, Porsche Holding, and EQT have all declined to comment.