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First Sentier Plans $1.5 Billion Sale of French Energy Firm Coriance

  • Sale of district-heating firm Coriance could start by year-end
  • Asset may attract infrastructure-focused private equity firms

First Sentier Investors is considering a sale of French district-heating operator Coriance in a deal that could value the company at as much as 1.5 billion euros ($1.5 billion), people with knowledge of the matter said.

The investment firm is working with an adviser and may start the sale process by the end of the year, the people said, asking not to be identified because the information is private. Coriance is expected to mostly attract interest from private equity investors with funds specialized in infrastructure, some of the people said.