January 23, 2020 / 3:02 PM / 2 months ago

BayWa in talks to sell stake in renewables unit to Credit Suisse - sources

FRANKFURT, Jan 23 (Reuters) - German agriculture group BayWa is in advanced talks with Credit Suisse over a sale of a minority stake in its renewables business that could value the unit at 2 billion euros ($2.2 bln), including debt, two people familiar with the matter said.

BayWa has been looking for a buyer of a stake in BayWa r.e. renewable energy GmbH for some time and last month said it expected to conclude the process in the first quarter.

BayWa and Credit Suisse had no immediate comment. (Reporting by Arno Schuetze and Christoph Steitz; additional reporting by Oliver Hirt in Zurich and Alexander Huebner in Munich; editing by Thomas Seythal)

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