Report: Chevron's Asian Geothermal Assets Drawing Attention From Potential Buyers

According to a report by Reuters, Chevron Corporation CVX's Asian geothermal energy blocks are drawing interests from potential buyers. Reuters, citing "sources familiar with the matter," stated that the price tag on any potential deal could be as much as $3 billion. Potential buyers include France-based Engie, Japan-based Marubeni, among other Southeast Asian firms. Reuters added that bids for the assets are due this month after initiating the selling process last month. "There's a lot of jostling going on to see who's teaming up with whom. I expect to see companies forming consortiums for this big sale," a banker involved in the process told Reuters. "The Japanese are key as whoever ties up with them would have access to low cost funding and that boosts their chances," he added.