Nordic Consortium Eyes Stake in TenneT's German Arm

A consortium involving Norway's sovereign wealth fund and Dutch pension fund APG is reportedly preparing a bid for power grid operator TenneT by mid-September, according to Handelsblatt. This move highlights strategic interest in European energy infrastructure.

The Dutch government is expected to announce next month whether it will proceed with selling a minority stake in TenneT's German arm or move forward with a partial initial public offering (IPO). This decision is crucial as it determines investment routes in Germany's evolving energy market.

Should negotiations not reach a favorable result, TenneT Deutschland is set to initiate listing plans and declare an "intention to float" within two days. This proactive measure reflects the company's readiness to explore public market opportunities. (Reported by Rachel More; Edited by Ludwig Burger)

(With inputs from agencies.)