Antin Infrastructure Partners has agreed to sell a majority stake in US district energy provider Vicinity Energy to Harrison Street in a transaction valuing the business at $2.92bn, according tp a report by Reuters.
The deal, which is subject to regulatory approval, is expected to close during the first half of 2027.
Harrison Street will acquire its interest through a joint venture with Kenon Holdings, adding Vicinity to the investment firm’s portfolio of infrastructure and real asset investments.
Antin established Vicinity in 2019 after carving out Veolia’s US district energy operations. The company provides heating and cooling services to more than 1,000 buildings across 12 major US cities, with its services delivered under long-term contracts.
Antin’s shares rose 3.7% to €10.53 by 10:53 GMT on 30 September following news of the agreement.
