Four teams bid for German gas grid

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Four teams bid for German gas grid

According to sources, four teams have bid for German regional gas grid operator EVG Thueringen, which operates a 1,200 kilometre gas grid in the German states of Thuringia and Saxony.

The four bidders would be the following:

  • First State Investments,
  • Thueringer Energie,
  • Gas Union, and
  • Enovos and Ardian consortium.

German utility E.ON and gas firm VNG AG, which jointly own EVG Thueringen, announced plans to sell the regional gas grid in early February this year.

The transaction value is estimated at about €350 million (US$468 million).

E.ON is trying to complete a €20 billion disposal program. Yesterday we reported that that the deadline for submission of bids for the Spanish assets of E.ON’s was August 11th. The assets have an installed capacity of 4.3 GW, mostly thermal generation but also including 1.1 GW of renewables capacity.

Power and gas grids are safe assets not very exposed to market turbulences. This type of assets offer low return and arise special interest for infrastructure investors who are looking for low risk opportunities.

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