German bank to buy 20% stake in 50Hertz
Germany: German state-owned bank KfW has agreed to acquire 20% stake in Eurogrid International, the holding company of German transmission system operator (TSO) 50Hertz, on behalf of the German Federal Government.
KfW’s acquisition follows the deal between the Belgian TSO Elia System Operator and IFM Global Infrastructure Fund (IFM), an Australian investment management company, per which Elia will buy the stake in Eurogrid from IFM and immediately sell it to KfW, reports Compelo.
With KfW acquiring the stake 50Hertz, IFM will no longer be a shareholder in Eurogrid.
50Hertz is one of the four TSOs in Germany, playing a crucial role in the implementation of the energy transition in Germany.
The new shareholding structure is expected to strengthen Belgian-German cooperation regarding critical grid infrastructure and enable further integration of European electricity market.