VW tightens auction process for $10bn engine unit sale amid conflict of interest concerns

Volkswagen is taking extra steps to ensure fairness in the sale of its Everllence engine division, which could fetch up to $10 billion, amid concerns about potential conflicts of interest. The company has requested that private equity firms like EQT AB, CVC Capital Partners, and Bain Capital submit sealed bids. This move underscores the high stakes and the need for transparency in such a significant transaction. It's a strategic effort to maintain investor trust and uphold the integrity of the auction process.