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First State Investments becomes largest minority shareholder in MVV Energie
Transactions - APRIL 3, 2020

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First State Investments becomes largest minority shareholder in MVV Energie

by Kali Persall

First State Investments has paid $816 million for a 45.1 percent stake in German utility company MVV Energie from EnBW and RheinEnergie. With the deal, First State will become the largest minority shareholder in MVV.

The southwest German city of Mannheim remains the majority shareholder with 50.1 percent.

Peter Kurz, mayor of Mannheim, said the shareholder change marks “an important milestone for the further development of our MVV.”

First State has invested in long-term,sustainable companies in the utilities, energy and transport sectors in Europe for more than 20 years, primarily on behalf of European pension funds and insurance companies, according to MVV.

First State currently manages some €8 billion ($8.7 billion) in equity in the European infrastructure sector.

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