Update 1 - Antin will sell most of its stake in Vicinity Energy, its US company, to Harrison Street

Updated the stock price movement in the first paragraph and added transaction details and relevant background in the key points summary.

Reuters, September 30 - French private equity firm Antin ANTIN.PA said on Wednesday that it had agreed to sell its majority stake in US-based Vicinity Energy to Harrison Street. Boosted by this news, the company's share price rose 3.7% as of 10:53 GMT.

The deal values Vicinity at $2.92 billion and is expected to be completed in the first half of 2027, subject to regulatory approval.

• Harrison Street plans to acquire the stake through a joint venture formed with Kenon Holdings (KEN.N)

• Antin created Vicinity in 2019 by carving out the US district energy business of Veolia VIE.PA

• Vicinity provides district heating and cooling services to over 1,000 buildings in 12 major US cities under long-term contracts

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