VW Is Said to Shortlist EQT Group, CVC, Bain for Everllence

Volkswagen AG has picked suitors for the next round of bidding for its heavy diesel engine unit Everllence, according to people familiar with the matter.

Buyout firm EQT AB has teamed up with Porsche Automobil Holding SE, which is the listed holding company of the billionaire Porsche-Piëch family that controls Volkswagen, the people said. The EQT consortium, CVC Capital Partners Plc and Bain Capital have been invited to the next round of bidding, the people said.