Private-equity firm Energy Capital Partners has hired banks to explore a sale or initial public offering of its power-generation unit Equipower Resources Corp, the Wall Street Journal reported, citing people familiar with the matter. Equipower, which operates power plants in Connecticut, Illinois, Massachusetts, Ohio and Pennsylvania could fetch more than $1.5 billion in sale, some of the people were quoted by the Journal. (r.reuters.com/kut69v)In case the company owners opt for an IPO, the proceeds will be used to repay debt, the paper quoted a source.Equipower had debt of about $1.5 billion at the end of last year, according to Moody's Investors Service. (r.reuters.com/put69v)Barclays Plc and Goldman Sachs Group Inc are working with Equipower on the possible sale or IPO, the daily reported.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS fell by 0.02% or $-0.03/share to $161.19. In the past year, the shares have traded as low as $148.71 and as high as $181.13. On average, 3216980 shares of GS exchange hands on a given day and today's volume is recorded at 1859886.
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