Investing.com -- Morgan Stanley, in collaboration with Goldman Sachs, is investigating the potential sale of its majority share in German renewable project developer PNE, according to a Reuters report on Thursday. This process could lead to a bid for the firm, which is valued at approximately 1.09 billion euros ($1.17 billion).

Goldman Sachs has begun reaching out to potential private equity buyers to gauge their interest in Morgan Stanley’s 50.06% stake in PNE. This stake is currently valued at around 543 million euros, the report added.

A more structured sales process is anticipated to commence later in the year. This could potentially culminate in a transaction in the autumn. However, the discussions are still in the early stages and there is no guarantee that a deal will ultimately materialize.

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