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Bidders line up for E.ON's Spanish assets -sources
August 5, 2014 / 4:07 PM / 3 years ago

Bidders line up for E.ON's Spanish assets -sources

FRANKFURT/MADRID, Aug 5 (Reuters) - Bidders are readying indicative offers for the Spanish assets owned by Germany’s top utility E.ON, three sources familiar with the matter told Reuters, adding bids would value the whole business at about 2 billion euros ($2.7 billion).

Parties expected to submit non-binding bids for all or parts of E.ON’s portfolio include private equity firm CVC ; a consortium consisting of Canada’s Borealis Infrastructure and Portuguese utility EDP ; as well as a group comprising private equity group Riverstone and Swiss energy company Alpiq , the people said.

KKR, Macquarie and Spain’s Grupo Villar Mir are also expected to express interest, they said, adding it was not immediately clear whether they were part of a consortium or bidding alone.

First bids are expected to be submitted by an Aug. 11 deadline, the sources said.

E.ON, CVC, KKR, Riverstone, Macquarie, Borealis Infrastructure, Alpiq and Grupo Villar Mir all declined to comment.

EDP, which is 21 percent-owned by China Three Gorges, was not immediately available for comment. ($1 = 0.7477 Euros)

Reporting by Arno Schuetze, Christoph Steitz and Andres Gonzalez; Editing by Victoria Bryan

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