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Samreen Ahmad · · 1 min readPortugal firm in talks to buy Sunseap Group
“Energias de Portugal (EDP) is in advanced talks to acquire a majority stake in Sunseap Group in a deal that will value the Southeast Asian renewables firm at around S$1 billion (US$742 million),” said a Reuters report, citing sources.
Details:
- The Portugal-based company is in talks to acquire the stakes of shareholders such as Thailand-based energy firm Banpu and Singapore-based investor Temasek.
- EDP may also be investing at least US$1 billion into Sunseap Group over the next few years.
Dive deeper:
- It was earlier reported that Sunseap Group was looking at an initial public offering in Singapore by the end of the year.
- In April, the renewable energy company also raised an undisclosed amount of funding from Japan-based investors for its expansion into the country.
Editing by Collin Furtado and Lorenzo Kyle Subido
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