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Bain Capital has agreed to buy a majority stake in Volkswagen's marine engine unit for €7.4 billion, outbidding rival private equity firms for the asset.
The German automaker is pursuing the sale as part of an effort to reduce costs and cut its debt burden.
Bain Sees Off a Field of Rival Bidders The deal followed a competitive sale process in which Bain Capital prevailed over unnamed rival acquirers.
The private equity firm secured majority — rather than full — ownership, a structure that leaves Volkswagen holding a residual minority stake in the marine engine business.
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