finance
EQT AB Seeks Qatari Funding for Potential Bid on Volkswagen Marine Engine Unit
Swedish buyout firm EQT AB is obtaining funding from the Qatari sovereign wealth fund as it prepares a binding offer for Volkswagen’s large marine engine business. The bid is due next month. People with knowledge of the matter reported the development.
May 12, 11:34 AM·1m read1 source
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Swedish buyout firm EQT AB is obtaining funding from the Qatari sovereign wealth fund to support a potential acquisition of Volkswagen’s large marine engine unit, according to people with knowledge of the matter. The company is preparing to submit a binding bid by a deadline next month.
The funding arrangement would provide EQT AB with resources to pursue the transaction if its offer is accepted. Volkswagen has been exploring options for the marine engine business as part of broader portfolio adjustments. The unit manufactures large engines used in commercial shipping and other industrial applications.
The potential transaction would involve one of the world’s largest manufacturers of marine propulsion systems. Volkswagen’s marine engine division produces two-stroke and four-stroke engines that power a significant portion of the global merchant fleet.
EQT AB, a major European buyout firm, has previously invested in industrial and transportation-related businesses. Securing backing from the Qatari sovereign fund would add a substantial investor to any deal structure. The binding bid deadline next month will determine whether the sale process advances with EQT AB or moves to other interested parties.
No financial terms for a possible transaction have been disclosed.
