Antin to sell majority of US-based Vicinity Energy to Harrison Street (updated)
UPDATE 1-Antin to sell majority of US-based Vicinity Energy to Harrison Street Updates share move in paragraph 1, adds detail on the deal and context in bullet point summary.
Sept 30 (Reuters) - Antin Infrastructure ANTIN.PA has agreed to sell a majority stake in US-based Vicinity Energy to Harrison Street, the French private equity firm said on Wednesday, sending its shares 3.7% higher by 1053 GMT.
The deal gives Vicinity an enterprise value of $2.92 billion and is expected to close in the first half of 2027, pending regulatory approvals.
Harrison Street plans to buy the stake through a joint venture with Kenon Holdings KEN.N
Antin created Vicinity in 2019 through the carve-out of Veolia's VIE.PA US district energy business
Vicinity provides district heating and cooling services to over 1,000 buildings across 12 major US cities under long-term contracts
(Reporting by Margaux Perrin in Gdansk, editing by Milla Nissi-Prussak)
((Margaux.Perrin@thomsonreuters.com ))
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Brief: Antin Infrastructure Partners Annoucnes Placement Of Antin Shares By A Group Of Current And Former Partners