By: Inspenet, October 19, 2022
Spanish oil and gas company Repsol and France’s Engie have submitted bids to buy European renewable energy company Asterion Energies, according to a Reuters note.
Madrid-based Asterion is working on building wind and solar plants in Spain, France and Italy with a planned combined capacity of 6 gigawatts. One gigawatt of energy is roughly equivalent to the average output of a nuclear power plant, although, unlike nuclear power, renewable energy is intermittent.
Investment bank Greenhill, which is handling the sale, has started receiving non-binding offers from a small group of interested parties this week, according to sources cited by Reuters.
Asterion, owned by investment fund Asterion Industrial Infra I, could be valued at up to 750 million euros ($738.08 million) depending on the interest of bidders, the sources said.
The potential sale comes amid market turbulence and financing problems for most bidders due to rising interest rates.
This material from the es-us.finanzas.yahoo.com portal has been edited for clarity, style, and length.
Source : https://es-us.finanzas.yahoo.com/noticias/repsol-engie-participan-puja-empresa-060318932.html
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