Rekeep in Exclusive Talks to Sell Energy Arm to Address Debt (1)

Italian management services company Rekeep SpA is in exclusive talks to sell its energy arm to a joint venture between efficiency platform Renovit SpA and utility firm Hera SpA as it seeks funds to address maturing debt, according to people familiar with the matter.

The potential buyers were identified after a process run by its financial advisers Vitale & Co. SpA and UniCredit SpA, said the people, who asked not to be identified because the talks are private. Renovit was created by CDP Equity SpA and Snam SpA.

A spokesperson for UniCredit declined to comment on the deal, ...