PNE says sale prospects unclear as bids trail market valuation (Aug 10)

(Corrects August 10 story to clarify throughout that a Morgan Stanley Infrastructure Partners fund owns a stake in PNE, not Morgan Stanley itself)

Aug 10 (Reuters) - German renewable project developer PNE on Monday said that interest received so far in its sale process indicated potential buyers were unwilling to match its market valuation, casting doubts on whether a transaction would materialise.

A sale of the company could fetch more than €1 billion ($1.15 billion), Reuters reported in June.

• PNE, which has a market capitalization of €757.61 million, is 50.06% owned by a fund managed by Morgan Stanley Infrastructure Partners, according to LSEG data.

• "It is currently uncertain whether a transaction will materialise and what its terms would be," PNE said.

• The development comes as the Morgan Stanley Infrastructure Partners fund seeks to cash in on the PNE stake after a previous sale effort ended without success.

• Reuters reported last year that Morgan Stanley was working with Goldman Sachs to explore a sale. Other shareholders were also prepared to sell, sources have said.

• PNE has a 21.7-gigawatt pipeline of wind and solar projects, with more than half in core markets Germany, France and Poland.

• Multiple companies have eyed PNE in the past, including Switzerland's Partners Group and Canada's CPPIB, Reuters reported.

($1 = 0.8663 euros)

(Reporting by Mrinmay Dey in Mexico City; Editing by Jonathan Ananda)