A large French multinational conglomerate which holds interests in the power generation and transport markets Alstom, is set to receive initial bids this week for its heat exchanger business.
Private equity firms such as PAI, Rhone, Pamplona, Triton, Bain and Advent are likely to hand in offers by a Jan. 15 deadline, the people said, adding that more than 50 investors initially received information packages from Goldman Sachs, which is organising the auction.
Alstom, which makes high-speed TGV trains, announced sweeping job cuts in November and said it would sell up to 2 billion euros of assets to raise cash after a tough first half of the year.
One of the assets put up for sale is the heat exchangers business that comprises Air Preheaters unit, making products used by boiler companies and utilities, as well as the Gas-Gas Heater unit that makes devices salvaging heat from the flue gas from power plants before it exits through the stack.
Tags: Private Equity, Private Equity firm, Private Equity group, Private Equity Company, Private Equity Fund, Private Equity investment, Private Equity investor, Fund of Fund, Private Equity business, Private Equity industry, PE, France, Multinational Conglomerate, Alstom, PAI, Rhone, Pamplona, Triton, Bain, Advent, Goldman Sachs, Air Preheaters, Gas-Gas Heater.