SPAIN - Magnum joins bidding for renewable energy assets

The firm is up against binding offers from several industrial players, including Unión Fenosa, E.On, and Energias de Portugal and Suez. Deutsche Bank is leading the auction process for the assets, including plants in Portugal, France, Spain, and Germany, and has requested partial offers by country.

It is understood that Magnum is targeting stakes in the renewable energy sector, having invested in civil engineering company Eptisa and industrial infrastructure provider Pretersa.

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