02:15 PM EDT, 03/27/2025 (MT Newswires) -- Morgan Stanley ( MS ) is working with Goldman Sachs ( GS ) to explore selling a majority stake in German renewable project developer PNE, Reuters reported Thursday, citing two people familiar with the matter.

Goldman Sachs ( GS ) has started reaching out to potential private equity buyers on Morgan Stanley's ( MS ) 50.06% stake in PNE, currently valued at 543 million euros ($586.1 million), one of the people said, according to the report.

A formal sales process is expected later this year with a possible deal in the fall, though talks are early and a deal isn't guaranteed, Reuters reported.

Morgan Stanley ( MS ), Goldman Sachs ( GS ) and PNE declined to comment, Reuters said.

The companies didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 118.93, Change: -3.27, Percent Change: -2.68