EXCLUSIVE: Skoda Auto VW eager for stake sale to local partner, open to PE infusion, IPO
The group is likely to introduce two new platforms – MQB A037 and CMP 21 – both of which will call for an investment of a billion euros each.
Skoda Auto Volkswagen India Pvt Ltd (SAVIPL) is aggressively looking to raise funds for the Indian operation, according to sources. Apart from exploring a potential joint venture partner, the Indian arm of Europe's largest car maker, Volkswagen Group, is also open to selling a stake to financial partners.
Sources say the company has explored options for an IPO and private equity funding over the last six months, in addition to discussing a stake sale to Mahindra & Mahindra.
People in the know say Skoda Auto Volkswagen would need a minimum of 2 billion Euros to cater to the ...
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By Ketan Thakkar & Hormazd Sorabjee
09 Sep 2024
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Sarthak Mahajan
