FRANKFURT, Nov 13 (Reuters) – A consortium consisting of Brookfield and CPPIB is among suitors that have advanced to the next stage to buy German state-owned utility Uniper, according to two people familiar with the process. A spokesperson for the consortium declined to comment. Bidders, including Norway’s Equinor, Daniel Kretinsky’s EPH and a consortium consisting […]
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Exclusive-Brookfield, CPPIB consortium enters next round in Uniper sales process, sources say
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FRANKFURT, Nov 13 (Reuters) – A consortium consisting of Brookfield and CPPIB is among suitors that have advanced to the next stage to buy German state-owned utility Uniper, according to two people familiar with the process.
A spokesperson for the consortium declined to comment.
Bidders, including Norway’s Equinor, Daniel Kretinsky’s EPH and a consortium consisting of KKR and RWE, submitted indicative bids for Uniper in September and have been awaiting feedback from the German government.
Berlin is currently seeking to reduce its stake in Uniper to a blocking minority, either via a sale to a strategic or financial player or by selling shares via a so-called re-IPO in a deal that could value the firm at up to €14 billion ($15.4 billion).
One of the people said EPH was not invited to the next bidding round, which would result in a binding bid.
EPH was not immediately available for comment.
($1 = 0.9065 euros)
(Reporting by Christoph Steitz; Additional reporting by Michael Kahn; Editing by Louise Heavens)