Volkswagen said it is selling a 51% stake in engine subsidiary Everllence to Bain Capital as the German automaker streamlines its investment portfolio. Volkswagen will retain a 49% stake and remain a major shareholder in the medium term. The company said proceeds of roughly €7.40 billion, equivalent to about $8.40 billion, are expected from the 51% stake sale and debt after the transaction completes. Earlier reporting had said the deal would value Everllence at about €8.5 billion and rank among Europe’s biggest industrial carve-outs this year.