Edison’s green business attracts at least three bidders - report

Jan 24, 2014 - At least three possible bidders may be interested in the acquisition of a majority stake in the renewable energy business of Italian energy group Edison SpA, controlled by France’s EDF (EPA:EDF), agency Radiocor reported on Thursday, without naming sources.

According to the report, Vito Gamberale’s investment fund F2i and private equity firms First Reserve and Terra Firma are vying for the 60%-70% stake in Edison’s renewable assets put up for sale, comprising some 600 MW of power capacity -- mostly from wind and solar power, and a small share of EDF EN’s operations in Italy – for a capacity of over 100 MW.

First Reserve is said to be supported by Banca Leonardo, while Terra Firma is being advised by Bank of America Merryll Lynch.

The binding offers for the renewable assets are expected by the end of February, Radiocor said, adding that Edison did not comment on the issue.

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