FRANKFURT/LONDON, Oct 20 (Reuters) - Morgan Stanley's infrastructure investment arm is weighing a sale of a 40% stake in German wind and solar power project developer PNE AG (PNEGn.DE) after being approached by potential suitors, three people familiar with the matter said.
PNE confirmed on Thursday that Morgan Stanley and Photon Management intend to enter into open-ended preliminary talks with potential interested parties regarding Photon's stake in PNE.
Photon, which is controlled by Morgan Stanley, is PNE's largest shareholder.
Morgan Stanley Infrastructure Partners (MSIP) acquired the PNE stake following a failed takeover attempt in 2020.
Buying the whole stake would trigger a mandatory takeover bid for all of PNE under German stock market rules.