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With its transaction with KfW, EnBW has completed the partial sale of TransnetBW first announced in February 2023. Germany’s federal government has acquired a 24.95% stake in TransnetBW, a transmission system operator and subsidiary of EnBW, through its investment and development bank KfW. EnBW and KfW did not disclose the financial details of the transaction. The deal’s closure is subject to approval from the relevant antitrust authorities, and is expected in November 2023. TransnetBW covers a grid area of 34,600km² and serves 11 million Germans in the state of Baden-Württemberg. The company is building infrastructure for the energy transition, to maintain, optimise and expand the national grid to meet future requirements. The deal follows in the footsteps of the Südwest Consortium, led by insurance group SV SparkassenVersicherung, which acquired a 24.95% stake in TransnetBW in May 2023 for €1bn ($1.1bn), as reported by Reuters. |
