03:32 PM EDT, 06/26/2024 (MT Newswires) -- (Updates with MT Newswires' attempt to reach companies for comment in the third paragraph and additional detail in the fourth paragraph.)

Blackstone (BX) is exploring options for its sustainability and efficiency consulting subsidiary Legence, including a potential sale or initial public offering, Bloomberg reported Wednesday.

A transaction could be valued at as much as $5 billion, the news outlet reported, citing people familiar with the matter.

Blackstone and Legence did not immediately respond to requests from MT Newswires seeking comment on Wednesday.

The unit rebranded as Legence in June 2022 following a string of tack-on acquisitions.

(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.)

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