The Belgian power transmission system operator (TSO) Elia will increase its share in Eurogrid, the holding company above the German power TSO 50Hertz, from the current 60% to 80%. The transaction prices amounts €976.5m and will be supported via 70% hybrid and 30% senior debt issuance. The acqusition is subject to approval by the relevant regulatory authorities and is expected to be finalised in the second quarter of 2018.
In 2010, Elia acquired a 60% stake in Eurogrid from Vattenfall for a total consideration of €486m. Since then, 50Hertz's Ebitda has been growing by an average compound annual growth rate (CAGR) of 13% and is the fastest growing subsidiary of the Elia group.
Source: Elia