2024-12-03 21:00:35 :
Bloomberg reported on Tuesday, December 3, citing people familiar with the matter, that global energy giant TotalEnergies SE was about to acquire VSB Group from private equity firm Partners Group Holding AG. The deal valued VSB at nearly $2.1 billion.
TotalEnergies SE is a global energy producer originating from France that sells large quantities of oil and biofuels, natural gas and green gases, renewable energy and electricity.
The French energy company and Partners Group are in advanced discussions. According to reports, they may announce the deal in the coming days. A final deal could still be delayed.
Company representatives for TotalEnergies and Partners Group reportedly declined to comment on the matter.
VSB Group is a pan-European renewable energy company dedicated to the development, construction and management of wind energy and photovoltaic parks. The company’s services include project management and environmental planning in the renewable energy sector.
VSB Group’s projects cover solar, hydropower and wind power in France, Germany, Poland, Italy and other places. It has more than 500 employees and 21 branches around the world.
Partners Group owns 80% of VSB Group
According to reports, Partners Group acquired 80% of VSB Group shares in 2020. The private equity firm has been considering selling some of its infrastructure assets, which have a combined value of more than $5 billion.
Swiss buyout firm Partners Group is looking to capitalize on investor interest in the sector. VSB is one of the assets Partners has been looking to divest, people familiar with the developments told Bloomberg.
In its Indian business, TotalEnergies, which has invested $3.85 billion in Adani Group companies since 2019, said on November 25 that it had decided to postpone new investments until the allegations were clarified. Mint reported earlier.
“Total Energies will not make any new financial contributions as part of its investment in Adani Group companies until the allegations against Adani Group individuals and their consequences are clarified,” Total Energies said in an official statement.
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