Today, Elia System Operator SA/NV (Elia) announced the decision to exercise its pre-emptive right to acquire the remaining 20 percent share in Eurogrid International SCRL, the holding company of 50Hertz Transmission GmbH, from IFM Global Infrastructure Fund (IFM). This 20 percent share will be immediately resold to the Kreditanstalt für Wiederaufbau (KfW).
Transaction subject to Elia's pre-emption right
50Hertz has just been informed, that Elia System Operator SA/NV (Elia) received notification by IFM Global Infrastructure Fund (IFM) regarding IFM’s intention of selling its remaining 20 percent stake in Eurogrid International SCRL, the holding company above 50Hertz. The transaction is now subject to Elia’s pre-emption right.
Exercise pre-emption right
Elia System Operator SA/NV (‘Elia’), the Belgian transmission system operator and 50Hertz majority shareholder, has decided to exercise its pre-emption right to acquire an additional 20 percent stake in Eurogrid International SCRL (‘Eurogrid’), the holding company above 50Hertz. Through this transaction, Elia will own 80% of Eurogrid, while 20% remain with Australian infrastructure fund IFM Investors (‘IFM’).