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Bloomberg
China General Nuclear (CGN) Power Corp is considering selling its portfolio of renewable energy assets in Europe in a deal that could fetch more than $2 billion, people with knowledge of the matter said.
The Chinese firm is working with Citic Securities Co on the potential disposal of CGN Europe Energy, said the people, who asked not to be identified
as the information is private.
The state-backed giant has started sounding out industry players as well as private equity firms about a sale, the people said.
Deliberations are at an early stage and the company could decide to keep the assets, the people said.
Representatives for CGN and Citic Securities couldn’t immediately respond to emails and phone calls requesting comment.
Chinese firms controlled by the government have lately stepped up reviews of their overseas portfolios as they look to optimise returns on their investments. Beijing Capital Group Co and Beijing Enterprises Holdings Ltd have been considering sales of their overseas holdings, Bloomberg News has reported.