Tennet Seeks IPO Pitches as It Eyes Tricky German Privatization
One key sticking point in any deal will be the billions of euros in investments that the Tennet unit needs in the next few years to upgrade its grid.
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Tennet Holding BV, the Dutch grid operator that failed to sell its massive German grid to Berlin in recent months, is pushing ahead with plans to privatize the unit in what could prove to be another uphill battle.
Tennet has invited investment banks to pitch for roles on a potential initial public offering of the German operations, people with knowledge of the matter said. The company is seeking proposals from banks who want to secure leading roles as global coordinators on a possible listing, the people said.