PE owner weighs up sale of Formosa Solar - report

Swiss private equity firm Partners Group (SWX:PGHN) is considering a sale of Taiwan-based Formosa Solar Renewable Power Co in a deal that could value the business at up to USD 400 million (EUR 376.0m) in equity terms, Bloomberg reported, citing insiders.

Preliminary discussions are underway, with Bank of America Corp tapped to assist in the potential transaction. No final decision has been made yet and the Swiss firm may also decide to keep the business, the report said further.

Formosa Solar was established in 2016. The company offers business development, operation and maintenance, and management and engineering services for solar projects.

The report about the Taiwanese firm comes shortly after the news agency said that the Swiss investor is considering an exit from three of its portfolio companies -- German wind and solar energy developer VSB Group, Northern European green energy company Gren and Norwegian natural-gas transport company CapeOmega.

(USD 1 = EUR 0.940)

Choose your newsletter by Renewables Now. Join for free!