A consortium of investors managed by Macquarie Infrastructure and Real Assets has acquired the remainder stake in Czech grid operator Innogy Grid Holding for €1.8 billion ($2 billion).
The seller was German utility giant RWE AG.
Innogy Grid Holding is the owner of GasNet, a regulated gas distribution network in the Czech Republic.
The Macquarie Infrastructure consortium already owned 49.96 percent of Innogy Grid and the consortium.
In February, RWE acquired the majority shareholding in Innogy Grid Holding from Innogy SE. An agreement had been reached as part of the transaction with E.ON that E.ON would purchase this interest in Innogy Grid Holding from RWE within the scope of the envisaged acquisition of Innogy SE.
The execution of the agreement with E.ON triggered a right of first refusal for the co-shareholders of IGH.
The Macquarie Infrastructure and Real Assets–managed consortium will acquire the remaining stake under the terms and conditions applicable if RWE sold it to a third party.
Macquarie Infrastructure and Real Assets will be the sole owner.
Recently, RWE AG cancelled its plan to build the 1.1-gigawatt BOAplus lignite power station at the Niederaussem site in Bergheim, North Rhine-Westphalia. The company stressed in a statement that it will no longer invest in the construction of new coal-fired power stations because it will focus on renewable power generation, as well as on energy storage and low-carbon technologies such as gas-fired plants.
