Private equity firm KKR plans Telvent bid: paper
MADRID |
MADRID (Reuters) - U.S. private equity group KKR KKR.UL is planning a bid for Abengoa's (ABG.MC) Nasdaq-listed technology unit Telvent GIT TLVT.O, Expansion reported on Wednesday citing sources familiar with the deal.
No one at Abengoa or KKR was immediately available for comment.
Other private equity firms including Permira PERM.UL and Carlyle CYL.UL are also studying a possible bid for Telvent, in which Abengoa holds a 62 percent stake, Expansion said.
The price of the majority stake, which Expansion says Abengoa wants to sell to reduce its debt and finance its alternative energy ventures, is a sticking point in the talks as Telvent has lost over two thirds of its value so far in 2008, the paper said.
(Reporting by Jonathan Gleave; Editing by David Holmes)
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