The Dutch power transmission system operator (TSO) TenneT has announced that it is seeking investors willing to contribute capital against issuance of shares in its German business. The grid operator is the sole shareholder of its unit TenneT GmbH & Co KG (TenneT Germany or TKG) and is now looking to raise equity through third-party investors by attract private investment and is also considering a potential initial public offering (IPO). Interested parties are invited to contact the TenneT’s financial advisors by March 25 to receive additional information. One or more interested parties will be selected through a competitive, transparent and non-discriminatory process. Financial details of the pursued options were not disclosed
TKG holds all shares in TenneT TSO GmbH, a regulated transmission system operator operating an extra-high voltage transmission grid in, or in certain parts of, Bavaria, Bremen, Hesse, Lower Saxony, North-Rhine-Westphalia and Schleswig-Holstein. In addition, TenneT Offshore GmbH, another wholly-owned subsidiary of TKG, directly or indirectly builds and owns grid connections for offshore wind parks.
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