(Reuters) — Riverstone Holdings Ltd is the top contender to buy U.S.-based Talen Energy Corp, formed when the private equity firm merged some of its power plants with PPL Corp‘s power generation unit, Bloomberg reported.
A deal could be announced shortly, Bloomberg reported on Friday, citing a person familiar with the matter.
A final decision is yet to be made and Talen could select another buyer or stay independent, Bloomberg reported, citing people with knowledge of the matter.
As of Dec. 31, Riverstone owned about 35 percent of Talen, which was created in June last year.
The two companies were not immediately available for comment.
Allentown, Pennsylvania-based Talen’s shares rose 7.7 pct to $12.50 in late afternoon trading.