German utility EnBW Energie Baden-Wuerttemberg AG (EBK.XE) is seeking advisors for the sale of its power transmission network valued at over EUR300 million, three people familiar with the matter told Dow Jones Newswires.
German utility EnBW Energie Baden-Wuerttemberg AG (EBK.XE) is seeking
advisors for the sale of its power transmission network valued at over EUR300
million, three people familiar with the matter told Dow Jones Newswires.
The process to select banks as financial advisors for the transaction is still
at an early stage, but indicates that EnBW has finally decided to sell the
power network business, following similar transactions by Germany's other
dominant utilities that include deals by E.ON AG (EOAN.XE) and RWE AG (RWE.XE).
EnBW wasn't immediately available to comment on the information.
In January, Chief Executive Hans-Peter Villis said that several investors had
expressed interest in the power transmission grid, adding that the utility
would be open to examining possible offers should that interest firm up.
At that time, Villis said that EnBW would be looking to retain
"operational control" of the business, indicating that EnBW would
retain at least a blocking minority--25% plus one share--in the grid.
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