07/08/2026
The ICCC is currently conducting a public consultation on a Clearance Application by Allens on behalf of Bain Capital Investors, LLC for the proposed acquisition of a 51 percent (%) interest in Everllence SE (“Everllence”) from Volkswagen Aktiengesellschaft (Volkswagen).
The proposed acquisition will be implemented through Nikolaus (BC) Bidco GmbH (Nikolaus Bidco), a special-purpose vehicle/ company ultimately controlled by Bain Capital. Under the Proposed Acquisition, Nikolaus Bidco will acquire 51% of the shares and voting rights in Everllence from Volkswagen, while Volkswagen will retain the remaining 49%.
The ICCC is inviting interested stakeholders and members of the public to provide comment/or views on whether the Proposed Acquisition is likely to result in a substantial lessening of competition in any relevant market in PNG.
It also seeks views on whether Bain Capital or any of its controlled portfolio companies supplies goods or services in PNG that compete with, complement, supply inputs to, or purchase goods or services from Everllence, and whether the Proposed Acquisition is likely to affect prices, service quality, customer choice, market entry, access to aftermarket services or otherwise raise competition concerns in any markets in PNG.
Bain Capital is a private investment firm with its registered office in Boston, USA. It invests in companies operating across various industries and geographic regions, including information technology, healthcare, retail and consumer products, communications, financial services and industrial and manufacturing activities.
Everllence is a company registered and headquartered in Augsburg, Germany, and is currently wholly owned by Volkswagen. Everllence operates globally as an engineering company specializing in propulsion and energy solutions for maritime, energy, and industrial applications. It develops and manufactures engines, turbomachinery, and propulsion systems. It also provides lifecycle services, including spare parts, maintenance, repairs, technical support, upgrades and performance optimization through its global service network. Everllence does not have a local company, staff, agents or other operational presence in PNG. However, through its PrimeServ lifecycle-services business, it supplies aftermarket support services to selected customers in PNG.
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