Berlin, 22.08.2018 - The new shareholder structure of Eurogrid International, the 50Hertz holding company, is in place: the sale of the remaining 20% stake by the Australian infrastructure fund IFM to majority shareholder Elia (80 percent) and the resale of this stake to the promotional bank KfW (Kreditanstalt für Wiederaufbau) was concluded today with the so called closing. Until spring, IFM held a 40% stake in Eurogrid International, and thus in 50Hertz, and initially received an offer from State Grid Corporation of China for half of its shares. Elia exercised its pre-emptive right for this 20% share, increasing its stake in Eurogrid International from 60 to 80% at the end of April. A few weeks ago, IFM received another offer from State Grid for the remaining 20% share. Elia again exercised its pre-emptive right for these shares, but immediately resold them to KfW, achieving the same price. Elia's press release on this transaction is available for download at www.eliagroup.eu.
With more than 1000 collaborators, 50Hertz handles 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 a 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 the Belgian transmission system operator Elia (80%) and as from now on the Kreditanstalt für Wiederaufbau (KfW) with 20%. 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