Car maker want to simplify the group which has 12 brands, trucks, buses, motorbikes, cars and electric bicycles as part of its business
Volkswagen sign is seen during the annual earnings news conference of VW in Berlin, Germany, March 13, 2018. File photo:REUTERS/HANNIBAL HANSCHKEFrankfurt — Volkswagen has approached several companies to gauge their appetite for buying MAN Energy Solutions, which makes large diesel engines for ships and power generators, people close to the matter said.
Volkswagen has not yet started a formal sales process or appointed an adviser for the sale of the company but has contacted rivals in the engine manufacturing business such as Cummins, Wartsila and private-equity owned Jenbacher, these sources said.“Volkswagen wants to see what would be possible,” one of the people said, adding that depending on the feedback it gets the car maker could launch a formal sales process later in 2019 .
The business, formerly known as MAN Diesel & Turbo, also makes turbochargers used in the oil and gas industry. The potential sales process follows Volkswagen’s decision earlier in 2019 to scrap plans for an initial public offering of its Traton trucks unit, which features the MAN, Scania and Volkswagen Caminhoes e Onibus brands.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Man City overtake Man Utd as most valuable Premier League club: reportThe report said United still had the highest revenue of any club in the Premier League but increased costs meant they relinquished top spot in the valuation table.
Read more »
Zodwa Wabantu on proposing to her bae: If you love your man, why wait?ZodwaWabantu | 'I'm old and checking my time to marry him before I run out of time or he leaves me.'
Read more »
OPINIONISTA: One Man No VoteI'm a citizen in a democratic country called South Africa and yet I can't vote in the next general election. Prisoners can vote, but I, with no criminal record, can't. Cabinet ministers under suspicion of corruption and State Capture can vote. Every citizen in South Africa who has registered to vote can on 8 May to vote for the future of their country. I can't, because I am in London performing a show at the Soho Theatre. It will be a shame to miss the excitement and pride one feels when queueing up to vote at the Church Hall in Darling where I am registered.
Read more »
Man killed in Honeydew hit-and-runPolice are investigating events leading to the fatal incident.
Read more »
Man arrested for murder, rape of Elim girl, 6, to appear in courtAn Elim man, accused of the rape and murder of little Delvina Europa, will appear in the Bredasdorp Magistrate's Court.
Read more »
Man trapped after roadway collapses in Durban
Read more »
Cops stop man for skipping red traffic light, find 13 000 shucked abaloneA man caught in possession of 13 042 dried and shucked abalone is expected to appear in the Cape Town Magistrate's Court.
Read more »
Man killed in Honeydew hit-and-run | IOL NewsA 27-year-old man was killed Monday morning when he was struck by a light motor vehicle along Johan Road in Honeydew, ER24 paramedics said.
Read more »
Driver 'climbed into boot and shot himself' outside Sandton police stationPolice are investigating after a man committed suicide outside the Sandton police station on Sunday.
Read more »
Zodwa Wabantu on proposing to her bae: If you love your man, why wait?She said that she bought the ring from the money she made from twerking.
Read more »
Liverpool hold thumbs Rodgers will halt Man CityFormer Reds manager's Leicester side can do title-chasers a huge favour
Read more »