Pacific Equity Bids for Energy Developments Corp.

SYDNEY (Reuters) – Australian renewable enery company Energy Developments Corp (ENE.AX) has receieved a takeover bid from private equity group Pacific Equity Partners, which values Energy Developments at A$415 million ($380 million) on a fully diluted basis.

Energy Developments said in statement on Monday it had allowed Pacific Equity Partners to carry out due dilligence. The proposal is incomplete, Energy Developments said.

($1=1.091 Australian Dollar) (Reporting by Denny Thomas; Editing by Mark Bendeich) ((; +61 2 9373 1812; Reuters Messaging: ((If you have a query or comment on this story, send an email to