(Dec 3): TotalEnergies SE is close to acquiring VSB Group from private equity firm Partners Group Holding AG, in a deal that values the renewable project developer at about €2 billion (US$2.1 billion or RM9.4 billion), according to people familiar with the matter.

The French energy company and Partners Group are in advanced talks, and could announce the transaction as soon as in the coming days, the people said. A final agreement could still be delayed, said the people, who asked not to be identified as the information was private.

Representatives of TotalEnergies and Partners Group declined to comment.

VSB Group offers services including project management and environmental planning in the renewable energy sector. Its projects span across solar, hydro and wind power in France, Germany, Poland and Italy. The company has more than 500 employees and 21 branch offices globally. Partners Group acquired an 80% stake in VSB Group in 2020.

Partners Group has been considering the sale of some of its infrastructure assets, with a combined value of more than US$5 billion, as the Swiss buyout firm seeks to take advantage of investor appetite in the sector, Bloomberg News reported in March. VSB Group is among the assets that Partners has been looking to divest, people familiar with the matter have said.

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