Yahoo Finance Partners Group Said to Mull Sale of Taiwanese Solar Firm Formosa
(Bloomberg) -- Partners Group Holding AG is weighing a sale of Taiwan’s Formosa Solar Renewable Power Co., according to people with knowledge of the matter.
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The Swiss private equity group is working with Bank of America Corp. on the potential divestment, targeting an equity value of $300 million to $400 million, said the people, who asked not to be identified as the information is private.
Deliberations are at an early stage and Partners Group could decide to retain the business, the people said. Representatives for Bank of America and Partners Group declined to comment.
Formosa Solar manages and invests in solar photovoltaic projects in Taiwan, according to its website. It also engages in power machinery manufacturing, maintenance and inspection. Partners Group, which manages about $147 billion of assets, has been a main investor in Formosa Solar since its inception in 2016.
Deal volume for alternative energy assets in Asia has reached $9.9 billion so far this year, up from about $8.6 billion for the same period last year, data compiled by Bloomberg show.
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