PNE seeks full sale as buyer interest falls below market price

Wind power developer PNE has confirmed it is seeking to sell up to 100 percent of its shares. However, market interest suggests that potential buyers are offering prices below the current stock market value, rather than the typical acquisition premium. Morgan Stanley Infrastructure Partners, which holds a 48 percent stake, has been seeking an exit for several years. Results from this structured process are expected in the autumn.

In broader energy sector news, E.ON SE shares faced pressure after the company only confirmed its annual profit targets during an investor conference. Conversely, RWE AG saw gains, benefiting from strong second-quarter earnings and positive momentum in the European wind power sector following strong results from Danish wind turbine manufacturer Vestas Wind Systems A/S.