Germany’s government plans to buy a 25% stake in transmission system operator TransnetBW from majority owner EnBW Energie Baden-Wuerttemberg AG, a move that will support its aim of consolidating the nation’s power grids.
The acquisition worth €3.2 billion ($3.4 billion) will be carried out through a call option by the state-owned bank KfW, according to a document obtained by Bloomberg News.
The parliamentary budget committee has to approve the government’s plans in a session planned for next week, at which deputies are expected to vote in favor of a state guarantee backing the purchase, according to people familiar with the matter.
Read the full story on Bloomberg here.