EQT seals an alliance with Norges to bid for Acciona Energía
The Swedish private equity manager is teaming up with Norway's sovereign wealth fund in the sale process launched by Entrecanales to sell the green subsidiary of Acciona group. It is competing against Ardian.
The Swedish private equity firm EQT has teamed up with Norges Bank Investment Management, the investment arm of Norway's sovereign wealth fund, to bid for Acciona Energía, the renewable energy subsidiary of Acciona. The consortium is competing with French private equity firm Ardian to acquire the 91%-owned subsidiary, valued at around €11 billion.
EQT and Norges Bank Investment Management aim to purchase 100% of Acciona Energía, with EQT holding 75% and Norges Bank Investment Management holding 25% of the consortium. The sale process is expected to conclude by the end of the year, with Acciona working with Citi and Goldman Sachs as financial advisors.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
