By David French
NEW YORK (Reuters) – The local weather funding arm of buyout agency TPG is in talks to amass Altus Energy, a photo voltaic vitality supplier for industrial property and residential house owners, individuals accustomed to it informed Reuters on Monday of the file.
If negotiations between TPG Rise Local weather and Altus are profitable, an settlement could possibly be signed within the coming weeks, the sources mentioned, requesting anonymity because the discussions are confidential.
The deal shouldn’t be but finalized, the sources cautioned, including that one other suitor may additionally method Altus and it’s potential that no deal will likely be reached with both celebration.
Altus, primarily based in Stamford, Connecticut, and one of many largest house owners of economic solar energy vegetation in the US, mentioned in October that it was working with advisors to discover choices, together with a possible sale.
Altus, which has a market worth of round $650 million, declined to remark. TPG additionally declined to remark.
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