Wallenbergs, Known for Wärtsilä, in Speculation to Buy German Diesel Giant
The Swedish Wallenbergs are entering the race to acquire Wärtsilä’s toughest competitor, the former MAN Diesel.
The sale of the German diesel giant Everllence is linked to the Wärtsilä Group through the fact that Investor, the investment company of the powerful Swedish Wallenberg family, owns approximately 17 percent of Wärtsilä and 14.4 percent of the Swedish EQT fund.
According to Bloomberg on Thursday, the Stockholm-listed EQT fund has emerged as one of the candidates in the acquisition speculation surrounding the German ex-MAN Diesel, now known as Everllence.
According to market rumors, the EQT fund has teamed up with the Singaporean fund GIC for the purchase of the German diesel giant.
The acquisition of Everllence could turn into a fierce race, where according to market speculation, the world’s largest private equity investors, such as Advent and CVC Capital Partners, will face off against industrial players like the Japanese power plant manufacturer Mitsubishi.
Everllence is one of Wärtsilä’s toughest global competitors in marine and power plant engines, as well as maintenance services.