IFM, Elia and KfW close sale of 20% stake in Eurogrid

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Elia System Operator has announced the closing of transactions with IFM Global Infrastructure Fund and the German state-owned bank Kreditanstalt für Wiederaufbau (KfW) regarding a 20% stake in Eurogrid International.

With the close of these transactions, KfW, on behalf of the German Federal Government, replaces IFM as shareholder in Eurogrid, the holding company of the German transmission system operator 50Hertz Transmission GmbH.

IFM originally agreed in May 2018 to sell the stake to State Grid Corporation of China (SGCC), however Elia decided to exercise its pre-emption right and acquire the stake itself, before selling it on to KfW at the same price. Elia owns the remaining 80% stake in Eurogrid.

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