– 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). After the closing of this transaction in the third quarter 2018, former shareholder IFM Investors will no longer hold any shares in Eurogrid or 50Hertz. Elia, retaining 80 percent, therefore remains the majority shareholder of Eurogrid while KfW will own 20 percent.
Boris Schucht, Chief Executive Officer of 50Hertz: “The entry of the KfW as a minority shareholder of 50Hertz underlines the elementary importance of the transmission system of our country's critical infrastructure. We welcome this commitment, which in our view is also a strong signal for the energy transition.
I would like to thank our former shareholder IFM as well as Elia, both of which have always offered their constructive support and stood by our side as partners since 2010. In future, we aim to continue our path towards a successful energy transition in Germany and Europe with this new ownership structure and as part of a strong Elia Group.”
More information can be found on the Elia Group website: www.eliagroup.eu
With about 1,000 collaborators, 50Hertz takes care of the operation and the expansion of the transmission grid. Furthermore, the company is responsible for the management of the overall
electrical system throughout the German Länder of Berlin, Brandenburg, Hamburg, Mecklenburg- Western Pomerania, Saxony, Saxony-Anhalt and Thuringia. As transmission system operator active in the Central European market, 50Hertz is responsible for the secure integration of renewable energy, the development of the European electricity market and for maintaining a high level of security of supply. The shareholders are Belgian grid operator Elia and so far Australian infrastructure fund IFM Investors, holding stakes of 80% and 20% respectively. As a European transmission system operator, 50Hertz is part of the Elia Group and a member of ENTSO-E, the European Network of Transmission System Operators for Electricity.