Volkswagen considers options for transmissions maker Renk - sources

(Reuters) - Volkswagen (VOWG_p.DE) is considering options for transmissions maker Renk (ZARG.F) as Europe's largest carmaker streamlines operations to help fund a strategic overhaul following its emissions scandal, people close to the matter said.
The company is working with Citi (C.N) on deciding on the future of the asset, which may result in a sale of the maker of transmissions and bearings which are used from ships to wind turbines, they said.
If a formal decision to sell the company is taken an auction could be kicked off as early as autumn and the firm could be valued at 600-800 million euros ($687-$916 million) in a potential deal, they added.
Volkswagen and Citi declined to comment.
Volkswagen considers options for transmissions maker Renk - sources Volkswagen considers options for transmissions maker Renk - sources Reviewed by Alexander Von Stern on 04:15:00 Rating: 5