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Company Statement: Vattenfall sells its German transmission grid

( March 12, 2010, 15:23 GMT | Official Statement) -- Extract: Vattenfall has today signed an agreement to sell its subsidiary 50Hertz Transmission GmbH, which owns and operates Vattenfall’s German transmission grid, to the Belgian transmission system operator Elia and to the Australian Industry Funds Management (IFM), one of the largest global infrastructure investment managers. Under the terms of the agreement IFM will own 40 per cent and Elia will own a 60 per cent stake and have operational control.Vattenfall has today signed an agreement to sell its subsidiary 50Hertz Transmission GmbH, which owns and operates Vattenfall’s German transmission grid, to the Belgian transmission system operator Elia and to the Australian Industry Funds Management (IFM), one of the largest global infrastructure investment managers. Under the terms of the agreement IFM will own 40 per cent and Elia will own a 60 per cent stake and have operational control....

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