This is the best summary I could come up with:
NEW YORK, Aug 10 (Reuters) - Two of Canada's biggest pension funds are exploring options including a sale of Cubico Sustainable Investments that could value the renewable energy firm at about $6 billion or more, including debt, according to people familiar with the matter.
The sources, who requested anonymity as the matter is confidential, cautioned a deal is not guaranteed and is subject to market conditions.
Cubico's owners are aiming for a valuation of about 10 times its earnings before interest, taxes, depreciation, and amortization (EBITDA) of $641 million in 2022, the sources said.
The potential sale of Cubico comes at a time when renewable power developers and other service providers focused on energy transition have become attractive acquisition targets for infrastructure investors and corporate utilities.
Ontario Teachers' has invested alongside major U.S. utility NextEra Energy (NEE.N) in the United States, and struck a deal to finance offshore wind development with Australia's Macquarie Group (MQG.AX).
In 2015 the two funds partnered with Banco Santander SA (SAN.MC) to launch Cubico, and became equal owners after buying out the Spanish bank's stake the following year.
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