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EnBW reviews bids for TransnetBW stake following deal deadline

Reuters
·1 min read
FILE PHOTO: Flags of German power supplier EnBW Energie Baden-Wuertemberg AG are pictured at the company's headquarters in Karlsruhe

FRANKFURT (Reuters) - EnBW is reviewing binding bids for two minority stakes in its high-voltage power transmission grid TransnetBW, it said on Wednesday, as part of a deal that sources said could value the business at more than 2 billion euros ($2.2 billion).

EnBW, in a written statement, said the deadline for binding bids had expired April 21. The company last year said it had put up for sale two separate minority stakes of 24.95% in TransnetBW and state-lender KfW a pre-emptive right to buy in.

Sources told Reuters in February that KfW was intending to exercise that right and that the savings banks in Baden-Wuerttemberg, where EnBW is based, as well as Danish renewable investor Copenhagen Infrastructure Partners were still in the process.

($1 = 0.9053 euros)

(Reporting by Christoph Steitz, editing by Kirsti Knolle)