Report: Chevron May Have Found A Buyer For Its $3 Billion Asian Geothermal Assets
Bloomberg, citing "people with knowledge of the matter," noted that China Investment Corp, Malakoff Corp. and Ormat Technologies are among several companies that are considering a bid for the Asian assets, which include one of the world's largest geothermal operations.
The publication added that Philippine-based Energy Development and Aboitiz Power Corp along with Mitsubishi and Jakarta-based PT Medco Power Indonesia are all exploring a potential bid.
Some buyers are considering partnerships for a joint offer, Bloomberg's sources also stated.
Chevron could be entertaining bids for its assets by the end of May.
Shares of Chevron were trading higher by nearly 3 percent early Tuesday afternoon.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.