Morgan Stanley (MS) is working with Goldman Sachs (GS) to explore the sale of its majority stake in German renewable project developer PNE, two people familiar with the matter said, a process that could trigger a bid for the $1.17B firm, Reuters’ Christoph Steitz and Emma-Victoria Farr report. Goldman Sachs has started to sound out potential private equity suitors regarding their interest in Morgan Stanley’s 50.06% stake in PNE, which is currently valued at EUR 543M, one of the people said.
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