Financial advisor to TenneT's works council in relation to the majority stake sale of TenneT Germany

Cadenive acted as financial advisor to the works council of TenneT TSO B.V. in the sale of a substantial minority stake in TenneT Germany. The Dutch government, shareholder of TenneT, reached an agreement with KfW regarding a substantial minority equity stake in TenneT Germany for the expansion of its high-voltage grid as part of its continuing efforts to lead Europe’s energy transition. Following the transaction with Norges Bank Investment Management, Dutch pension fund manager APG and Singapore's sovereign wealth fund GIC, this transaction further diluted TenneT's stake in TenneT Germany to a substantial minority stake. The transaction supports further expansion of the high-voltage grid infrastructure in Germany, but also the necessary investments by the Dutch governement in TenneT Netherlands. Post closing, TenneT continued its crucial energy transition strategy. TenneT is the leading high-voltage transmission system operator (TSO) for the Netherlands and a substantial part of Germany.

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