EnBW sells minority stake in TransnetBW

EnBW Energie Baden-Württemberg AG has announced the sale of a 24.95% minority stake in its subsidiary, TransnetBW, to Südwest Konsortium Holding GmbH. The consortium, led by SV SparkassenVersicherung, comprises over 30 banks, insurance companies, and corporations from BadenWürttemberg. The sale was carried out through a multi-stage bidding process that adhered to state aid law and specific criteria. The transaction is expected to close in Q3 2023, pending approval from relevant antitrust authorities.

With the signing of this agreement, EnBW has completed a significant portion of the partial sale process it announced in February 2022. EnBW will remain the majority shareholder of TransnetBW. Financial details of the transaction have not been disclosed.

EnBW's strategic focus lies in transforming from a traditional energy provider to a sustainable infrastructure group. The company serves approximately 5.5 million customers and provides electricity, gas, water, and related products and services.