Tennet Kicks Off Stake Sale Valuing German Grid at €27 Billion
- Dutch state-owned operator seeks investors for German network
- The assets could be valued at €27 billion including debt
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Dutch state-owned grid operator Tennet Holding BV is officially launching the search for investors in its massive German high-voltage grid, marking the next step in a long-awaited privatization process.
Potential investors are asked to notify sellside banks by March 25 should they want to contribute “capital against issuance of shares,” according to an advertisement published in the Financial Times on Tuesday. Tennet is simultaneously exploring “raising equity in the public capital markets” as an alternative.