Volkswagen is implementing unusual measures to prevent conflicts of interest in the $10 billion sale of its engine unit, Everllence. The company is utilizing sealed bids and the recusal of several supervisory board members to ensure a fair process.
These restrictions follow concerns that a bidding consortium led by EQT may hold an unfair advantage. The consortium includes major Volkswagen shareholders Porsche Automobil Holding SE and the Qatar Investment Authority.
Porsche SE currently holds four seats on Volkswagen’s supervisory board. This involvement has prompted complaints from rival bidders CVC Capital and Bain regarding the auction's integrity.