Singapore’s sovereign wealth fund GIC Pte Ltd is among institutional investors interested in buying a stake in Dutch state-owned power grid company Tennet Holding’s German business, according to Bloomberg.
The report, published on September 5, says Eelco Heinen, finance minister of the Netherlands, is expected to review options over the next couple of weeks. The announcement comes after government officials and advisers have been holding talks with investors globally to gauge their invest in participating in either a private placement or an initial public offering for Tennet’s German unit.
Besides GIC, other investors that have shown interest include Apollo Global Management, and Norwegian sovereign wealth fund Norges Bank Investment Management.
The future of Tennet’s German power grid has been in limbo for years after an attempt to sell the business to Berlin failed. Dutch officials are keeping their options open as to how to draw in investment for the business due to the massive investments needed in grid infrastructure for Germany’s energy transition, the report says.
