Finance
Dutch to decide in September on partial sale of TenneT's German operations
Published by Global Banking and Finance Review
Posted on June 30, 2025
Global Banking and Finance Review
Company
Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Global Banking and Finance Review
Posted on June 30, 2025
By Benoit Van Overstraeten
AMSTERDAM (Reuters) -The Netherlands will announce in September whether it will sell a minority stake in the German arm of power grid operator TenneT or pursue a partial IPO, the government said on Monday, in what could be one of Europe's biggest deals in 2025.
The Dutch government embarked on a dual track process for TenneT Germany after a partial sale to German state lender KfW failed to materialise last June. It had initially hoped to come to a decision before the summer break.
"Based on the information I have received in recent weeks, I note that many investors are interested in participating in TenneT Germany," Dutch finance minister Eelco Heinen said in a letter to the president of the lower house of parliament.
TenneT Germany had a regulated asset base, a key valuation gauge for energy grids, of 27.8 billion euros ($31 billion) as of 2024, which is set to increase by 25% each year through 2029, according to an investor presentation on its website.
"Originally, the decision moment between the IPO and the private issue was scheduled around the start of the summer recess," Heinen said.
"Both pathways could be promising and attractive options to meet the capital needs. I have therefore decided to elaborate both pathways in parallel this summer (...) I intend to let you know in September which of the two options will be implemented."
Heinen also said that several investors had made non-binding offers for a minority stake in TenneT Germany.
Last month, Reuters cited sources as saying that funds including Apollo Global Management, Canada's Caisse de depot et placement du Quebec and Macquarie were interested in such a sale, and that BlackRock-owned Global Infrastructure Partners and CPP Investment Board, which manages Canadians' pension savings, might be too.
The sources added that a sale of new shares in TenneT Germany could raise up to 12 billion euros ($14 billion), although they said the amount could be significantly lower depending on the size of the stake sold and the level of debt.
In his letter, Heinen said that any partial IPO of TenneT Germany would occur in the fourth quarter of 2025.
($1 = 0.8498 euros)
(Additional reporting by Bart Meijer. Editing by Susan Fenton and Mark Potter)