PNE in Talks to Sell Wind Energy Portfolio to Allianz Renewable Fund

PNE Wind AG (PNE3.XE) said Thursday it is negotiating a sale of its remaining 20% stake in PNE Wind Partners GmbH to Allianz Renewable Energy Fund II.

The renewable energy fund, which is managed by Allianz SE's (ALV.XE) subsidiary Allianz Global Investors GmbH, already acquired a 80% stake in PNE Wind Partners at the end of 2016, PNE said.

PNE Wind Partners comprises wind energy projects with a total capacity of 142.5 mega watts, PNE added.

The proposed sale is not scheduled to take place until the end of the year and is subject to regulatory approval, according to the company.

Write to Max Bernhard at; @mxbernhard

(END) Dow Jones Newswires

November 23, 2017 10:15 ET (15:15 GMT)