Linklaters has advised Volkswagen on an exclusive arrangement with Bain Capital for the sale of its majority stake in Everllence – 51 percent of the shares are to be transferred. With this envisaged transaction, Volkswagen wants to significantly strengthen its own financial position as its transformation moves forward. In the medium term, Volkswagen intends to remain a major shareholder in Everllence with a 49 percent stake.
The company, which ranks among the world’s leading manufacturers of large engines, turbomachinery and decarbonization solutions, is to continue its growth in the dynamic markets of global shipping, data centers and the energy sector thanks to the new ownership structure.
The transaction is subject to the completion of the information and consultation processes with employee representation bodies required by law in France and the other conditions and approvals required by the regulatory authorities. The aim is for these conditions, including regulatory approvals, to be met by the end of 2026.
An international cross-practice Linklaters Team advised Volkswagen on this complex transaction. The team was led by Corporate/M&A Partners Ralph Wollburg, Achim Kirchfeld, Andreas Zenner and Andreas Müller(Private Equity). The Antitrust and Foreign Investment team was jointly led by Partners Christoph Barth and Kaan Gürer and included Partner Ryan Cheng (Beijing) as well as Managing Associates Ann-Christin Käser, Yuxin Weirich, Tim Dever (New York) and Qiuying Zheng (Beijing). The core team also included Partners Martina Farkas, Julia Rupp (Corporate/M&A, Private Equity), Kerstin Wilhelm (Litigation, Arbitration, Investigations), Julian Böhmer (Tax), Przemyslaw Lipin (Banking), Matthew Devey (Employment and Pensions), Counsels Julius Raapke, Dominik Wegener (Corporate/M&A), Anna-Katharina Lohbeck (TMT), Luca Rawe (Employment and Pensions) as well as Managing Associates Yixin Yang, Luise Winkler, Kristina Willmes, Lea Schürmann, Sophie Yang (Beijing i) (all Corporate/M&A), Lisa Jäger (IP), Jacqueline Engineer (Litigation, Arbitration, Investigations) and Benedikt Schewe (Tax).
Linklaters advises Volkswagen Group on its most strategic and complex transactions, most recently the Joint Venture with Rivian and the sale of stakes of Porsche in Bugatti Rimac and Rimac Group.
