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POWER: Tennet In Talks With Banks On Possible IPO

POWER
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Tennet Holding BV has selected banks, including ABN Amro, Deutsche Bank, Goldman Sachs, and Morgan Stanley, to explore a potential IPO of its German operations, sources say, cited by Bloomberg.

  • A stake sale remains an alternative option. Deliberations are ongoing, and neither Tennet nor the banks involved have commented.
  • The Netherlands and Germany spent over a year negotiating the sale of Tennet’s German power grid but talks collapsed in June due to Berlin's financial constraints.
  • Last month, the Dutch government announced an additional €19bn loan to Tennet, on top of January's €25bn, to meet rising electricity demand.
  • The Dutch government has stated that a private sale of Tennet Germany’s stake or an IPO are the "best ways" to address the capital needs of the cash-strapped grid operator.
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Tennet Holding BV has selected banks, including ABN Amro, Deutsche Bank, Goldman Sachs, and Morgan Stanley, to explore a potential IPO of its German operations, sources say, cited by Bloomberg.

  • A stake sale remains an alternative option. Deliberations are ongoing, and neither Tennet nor the banks involved have commented.
  • The Netherlands and Germany spent over a year negotiating the sale of Tennet’s German power grid but talks collapsed in June due to Berlin's financial constraints.
  • Last month, the Dutch government announced an additional €19bn loan to Tennet, on top of January's €25bn, to meet rising electricity demand.
  • The Dutch government has stated that a private sale of Tennet Germany’s stake or an IPO are the "best ways" to address the capital needs of the cash-strapped grid operator.