TTE - TotalEnergies' Windfall: $689M Seagreen Stake Sale Ignites Renewables Partnership In Thailand | Benzinga
TotalEnergies SE (NYSE: TTE) penned a deal with the national oil and gas company PTTEP in Thailand for divestiture of a 25.5% equity stake in the Seagreen offshore wind farm for £522 million ($689 million).
The deal implies an enterprise value of $4.3 billion (100%), equivalent to a multiple of 13 times the expected average EBITDA over the next 5 years, depending on future market prices.
The transaction ...