The energy company is looking for an investor to be able to finance the billions in investments in its power grid.
(Photo: dpa)
Frankfurt Germany’s third-largest electricity provider, EnBW, wants to bring a long-term financial partner on board for the billion-dollar grid expansion of its subsidiary TransnetBW. First bids are due this Wednesday for a 49.9 percent stake, according to several people familiar with the matter.
A consortium of Allianz and Versicherungskammer Bayern is expected to bid, as will Baden-Württemberg savings banks together with Stuttgarter SV Versicherung and be advised by the umbrella organization LBBW. The latter combination is given great opportunities in expert circles because of the direct connection to Baden-Württemberg.
Infrastructure investor Igneo (formerly FSI) is also one of the possible bidders in a team with Palladio infrastructure. “The process is still ongoing. We can’t say anything about the progress of the content and possible interested parties,” emphasized an EnBW spokesman on request. The interested parties declined to comment or were initially unavailable.
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