23 March 2018
Elia has decided to acquire an additional 20% stake in German transmission system operator 50Hertz
Elia has decided to exercise its pre-emption right and to increase its share in Eurogrid, the holding company above 50Hertz, from 60% to 80%.
- The transaction will allow further strengthening collaboration and a stronger partnership between Elia and 50Hertz forming the Elia Group as a leading group of transmission system operators (TSOs) in Europe.
- The transaction price amounts to € 976.5 million and can be financed via 70% hybrid and 30% senior debt issuance.
- The transaction will benefit to the shareholders and will not affect the transmission tariffs for end consumers, which are regulated in Belgium and Germany respectively.
- Elia confirms its commitment to deliver its planned investments in grid infrastructure in Belgium and Germany needed to support the energy transition in Europe.
- Elia will be entitled to fully consolidate 50Hertz after the transaction.