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Report: Chevron May Have Found A Buyer For Its $3 Billion Asian Geothermal Assets

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According to a report by Bloomberg, Chevron Corporation (NYSE: CVX) may have attracted additional interest among potential buyers for its 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.

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

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.

Posted-In: BloombergNews Emerging Markets Rumors Asset Sales Markets Movers Trading Ideas


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