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Engie Is Said to Seek to Sell $1 Billion of US Renewable Assets -bbg

UTILITIES
  • Engie aims to sell $1 billion in US renewable assets to reduce debt and fund investments.
  • “Farm down” for 49% of operating assets with infrastructure and pension funds targeted.
  • Targeting asset sales of €1 billion annually through 2026.
  • Represents ~ 0.1 turns of leverage, so not particularly significant but an important medium term funding strategy. Valuations achieved will be watched.

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