Indonesia, Philippines: 8 Companies are Vying for Chevron's Geothermal Assets

Basic Materials & Consumer Goods Stocks Buzz: Chevron Corporation (Wall Street 24)

Bids are due end of May 

On Monday, Shares of Chevron Corporation declined -1.13% to $95.24. The stock attained the volume of 6,644,156 shares. Sovereign fund China Investment Corp., Malakoff Corp. and Ormat Technologies Inc. are among companies weighing bids for Chevron Corp.’s Asian geothermal assets, which could fetch as much as $3 billion, people with knowledge of the matter said.

Philippine geothermal energy producers Energy Development Corp. and Aboitiz Power Corp. and Japanese trading house Marubeni Corp. are also weighing offers for the assets, the people said, asking not to be identified as the information is private. Mitsubishi Corp. and Jakarta-based PT Medco Power Indonesia are separately studying potential bids, according to company officials.

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Also, Chevron's $3 Billion Asian Sale Said to Attract CIC, Ormat (Bloomberg)