VW Taps Goldman, JPM for Sale of €5 Billion Everllence Unit (1)

Volkswagen AG has picked advisers to help arrange a potential sale of its Everllence SE business, which could be valued at more than €5 billion ($5.9 billion), according to people familiar with the matter.

The automaker is working with Goldman Sachs Group Inc. and JPMorgan Chase & Co. on the divestment of the unit, which makes ship engines and power-plant turbines, the people said. Everllence, previously known as MAN Energy Solutions SE, has drawn interest from private equity firms, the people said.

VW has been considering options for Everllence including an initial public offering, Bloomberg News reported in March. The ...