Ardian nears €1 billion acquisition of Akuo Energy

Ardian SAS is close to acquiring French renewable firm Akuo Energy SAS for around €1 billion ($1.1 billion). The deal is in the final stages and could be announced soon, valuing Akuo at up to €2.3 billion with debt. Previously, Akuo confirmed discussions with Ardian about transferring control. The company has also sold its small African operations to Perenco SA to raise funds for projects in Europe and the US. The renewable energy sector has faced challenges like rising borrowing costs and supply-chain issues, increasing the need for funding. This has led to more deals as investors anticipate growing electricity demand.