Buyout Firm Actis Hires Citi to Sell African Renewables Firm

Buyout firm Actis LLP appointed Citigroup Inc. to help with the sale of its BTE Renewables business in South Africa and is seeking a value close to $1 billion, according to people familiar with the matter.

The parties are close to putting together a shortlist of potential buyers, said the people, who asked not to be identified as the plans are still private. While the deal is attracting some interest there’s no guarantee a transaction will go ahead, they said.