Equis said to seek binding bids for $4bn power assets
Equis Energy, the Singaporebased developer of power projects, has asked for binding bids for its US$4bn renewable energy business by late September, people with knowledge of the matter told Bloomberg.
A consortium led by I Squared Capital is among suitors chosen to proceed in the bidding for the portfolio of Asia Pacific assets, according to the people. The infrastructure investment firm is partnering with Thai utility Electricity Generating Pcl and Japanese trading house Mitsubishi Corp, the people said, asking not to be identified.
Orix Corp, which has teamed with Dutch asset manager APG Groep NV, and Royal Dutch Shell Plc were also invited to make second-round offers, the people said.