Government of the Netherlands to acquire a 11.9% stake in Stedin Groep for €500m.

Government of the Netherlands agreed to acquire a 11.9% stake in Stedin Groep, a company that engages in the development, construction, management and maintenance of gas and electricity grids in the Netherlands, for €500m. “This is a boost to the energy transition in the provinces of Utrecht, Zeeland and Zuid-Holland. With the prospect of €500m additional capital, we can continue with the much-needed investments, which means more distribution substations, transformer stations and cabling. Now that the Central government is becoming a shareholder, their equity contribution also has a positive effect on our credit rating. Altogether will this also result in an addional borrowing capacity of approximately €1.7bn,” Danny Benima, Stedin CEO.