Petronas, Sembcorp, JSW Neo to vie for Continuum – EQ Mag
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Petronas, Sembcorp Industries, and JSW Neo Energy are separately considering acquiring Continuum Green Energy (India) Pvt. Ltd in a potential deal that may have an enterprise value of $1.5 billion, two people aware of the development said.
The companies may submit non-binding bids next month for the deal, which is expected to have an equity value of around $600 million, the people said, requesting anonymity. As reported by Mint in November, others in the fray are oil company BP Plc, Norway’s state-run electricity firm Statkraft, and New York-based I Squared Capital. The sale process, managed by Citibank and Deutsche Bank, may involve a 100% stake sale, including the sale of US investment bank Morgan Stanley’s 83% stake in the clean energy platform founded by Arvind Bansal and Vikash Saraf in 2009.
Source: livemint
