JPMorgan Leads Bid for Idex in €3 Billion-€4 Billion Deal
Updated
Updated · Bloomberg · Jul 1
JPMorgan Leads Bid for Idex in €3 Billion-€4 Billion Deal
1 articles · Updated · Bloomberg · Jul 1
Summary
JPMorgan Chase’s asset management unit has emerged as the leading bidder for Idex, the French heating and cooling network operator owned by Antin Infrastructure Partners.
€3 billion to €4 billion including debt is the valuation range being discussed for Idex in a potential transaction, according to people familiar with the matter.
CPP Investments has also been pursuing the asset, indicating JPMorgan is ahead in a competitive sale process rather than in exclusive talks.
The auction centers on a Paris cooling network operator and broader heating and cooling infrastructure business, a sector that continues to attract large infrastructure investors.