PE firm eyes USD-2.5bn deal for French renewables firm Akuo - report

Private equity firm Ardian is holding advanced discussions on a possible takeover of Akuo in a deal that could value the French renewable power producer and developer at about USD 2.5 billion (EUR 2.31bn), including debt, Bloomberg reports.

Ardian has already started due diligence on the target company and a final agreement could be expected in December, according to insiders cited by the media, who cautioned that a deal is uncertain yet.

Akuo specialises in solar, wind and energy storage. It had a portfolio of more than 1.8 GW of power in operation and under construction across the world as of the end of Januay, according to its website.

At the beginning of October, the company launched a crowdfunding campaign to expand its recently inaugurated Santas solar farm in the Alentejo region of Portugal to 225 MWp.

The Paris-based firm was founded by Eric Scotto and Patrice Lucas in 2007. It is backed by ICG Infra, the infrastructure fund of asset manager Intermediate Capital Group (ICG).

(USD 1 = EUR 0.924)

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