Engie Said to Eye Disposals in US, France to Fund UK Acquisition

Engie SA is preparing several divestments in the US and France as it seeks funds to buy a power-distribution business in the UK, according to people with knowledge of the matter.

The French utility is working with an adviser to sell stakes in energy partnerships that provide power and heat to US universities, the people said, asking not to be identified discussing private information. The assets could fetch as much as $1 billion, they said.

The company has also been considering the sale of a minority interest in French gas-storage business Storengy, one person said.

Engie declined to comment. ...