Actis looks to buy Sprng from Shell in $1.5 bn deal
new delhi, Nov. 6 -- General Atlantic owned Actis Llp is interested in buying back Sprng Energy group from Shell Plc in a deal having an enterprise value of around $1.55 billion, two people aware of the matter said.
If Actis indeed acquires Sprng, the deal would mark a full circle for the company, which had sold Sprng Energy to Shell three years ago at an enterprise value of $1.55 billion. Sprng Energy has 2.3 gigawatt (GW) of operational renewable energy projects, and 5GW in the pipeline. Other interested prospective bidders in the yet-to-be-launched sale process, run by Barclays, include the world's largest alternative asset manager Blackstone, and Canada's Brookfield Asset Management Inc., thepeoplesaid on the condition of anonymity.
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