Brookfield Asset Management Inc. (TSX:BAM.A), Orix Group Kenko Hoken Kumiai , Iberdrola, S.A. (BME:IBE) and Repsol, S.A. (BME:REP) have presented their bids for X-ELIO Energy, S.L. for what will be a deal estimated at up to €1 billion ($1.14 billion), sources close to the operation told Spanish business news outlet Expansion. X-ELIO Energy owned 80/20 by KKR & Co. Inc. (NYSE:KKR) and Gestamp Automoción, S.A. (BME:GEST) is on the market with four suitors lined up to buy it, several local media reported citing financial sources.

Compañía Española de Petróleos, S.A.U. (Cepsa) has also been invited to participate, however, it has not presented a bid, according to business newspaper Cinco Dias. One of the rumoured bidders, Repsol, is reported to have long been interested in X-Elio in an effort to become "greener".