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May 7, 2019, 4:26 p.m. EDT

Germany : Volkswagen sounds out buyers for MAN Energy Solutions - sources

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May 07, 2019 (Euclid Infotech Ltd via COMTEX) -- Volkswagen has approached several companies to gauge their appetite for buying MAN Energy Solutions, which makes large diesel engines for ships and power generators, people close to the matter said.

The informal sales pitch is part of Volkswagen Chief Executive Herbert Diess's efforts to slim down and simplify the group which has 12 brands, trucks, buses, motorbikes, cars and electric bicycles as part of its business.

Volkswagen has not yet started a formal sales process or appointed an adviser for the sale of the company but has contacted rivals in the engine manufacturing business such as Cummins, Wartsila and private-equity owned Jenbacher, these sources said.

Volkswagen declined to comment.

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