German utility EWE will put a $1.9 billion minority stake on the block later this year, a sale that is expected to draw interest from infrastructure investors, pension funds and oil majors.
EWE has hired asset manager Goldman Sachs to find a buyer for the 26 percent stake. Macquarie, Shell and Allianz Capital Partners were among potential buyers. Sources said Dutch pension fund PGGM could also be interested.
EWE's stake could be worth between 1.5 billion and 2 billion euros ($1.9 billion and $2.5 billion), based on its 2016 operating earnings before interest, tax, depreciation and amortisation.
The company has said it wants to find a new strategic partner by 2019 year to raise fresh funds for growth investments, including build glass-fibre networks with Deutsche Telekom.