Ardian Is Said to Near €1 Billion Deal for Renewable Firm Akuo

Buyout firm Ardian SAS is nearing a deal to acquire French renewable firm Akuo Energy SAS for about €1 billion ($1.1 billion), people familiar with the matter said.

Ardian and the main owners of Akuo — its founders and Intermediate Capital Group — are finalizing details of a transaction, which could be announced in the coming days, the people said. A deal could value the renewable firm at as much as €2.3 billion including debt, one of the people said, asking not to be identified discussing confidential information.