(Source: European M&A and Investment)
Accenture may acquire Volkswagen’s subsidiary
Sources say that Volkswagen Group plans to sell its majority stake in the automotive engineering services company IAV (Ingenieurgesellschaft Auto und Verkehr) to IT consulting firm Accenture.
According to reports, Volkswagen Group currently holds 50% of IAV, while IAV itself holds 40%, and Aumovio holds the remaining 10%. Accenture plans to acquire about 70% of IAV, while Volkswagen Group will continue to hold 30% of the stake.
IAV, headquartered in Berlin, Germany, has been affected in recent years by reduced R&D investment in the automotive industry. On August 6, 2024, IAV reached an agreement with Germany’s metalworkers’ union (IG Metall), planning to cut about 2,000 jobs by the end of 2027. Currently, IAV has about 5,000 employees.
This transaction is considered part of the Volkswagen Group’s efforts to further推进 cost reduction and asset divestment strategy.
Volkswagen continues to push for asset restructuring
In recent years, the Volkswagen Group has continued to optimize its corporate structure by selling parts of its businesses and assets.
In June 2024, the Volkswagen Group agreed to sell a 51% stake in engine manufacturing company Everllence to US private equity firm Bain Capital for approximately €7.4 billion.
In addition, MHP, the Volkswagen Group’s Porsche Consulting subsidiary, may also become a potential future divestment target.
IAV’s global business footprint
IAV stands for Ingenieurgesellschaft Auto und Verkehr, an automotive engineering services company headquartered in Berlin, Germany.
The company has subsidiaries in China, the United States, Poland, Japan, and South Korea, providing engineering development and technical services to customers in the global automotive industry. In June 2024, IAV established DFNZ GmbH to handle defense-related contract business. IAV CEO J?rg Astalosch has been employed by the Volkswagen Group since 1988 and is currently serving as IAV’s interim CFO.
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