KfW to acquire a 25.1% stake in TenneT Germany from TenneT for €3.3bn.

KfW, a German state-owned investment and development bank, agreed to acquire a 25.1% stake in TenneT Germany, a European grid operator, from TenneT, a transmission system operator in the Netherlands, for €3.3bn. "We warmly welcome the German state via KfW as a shareholder in TenneT Germany. The German state represents one of the most important stakeholders for TenneT in Germany. This co-shareholding creates valuable additional involvement, with particular attention to the increasing investment agenda and the new geopolitical reality. TenneT remains committed to ensuring a reliable, sustainable and affordable electricity supply," Manon van Beek, TenneT CEO.