Elia System Operator, a Belgian Transmission System Operator, and Industry Funds Management (IFM), a global infrastructure investment manager, have finalized the acquisition of the German Transmission System Operator 50Hertz Transmission from Vattenfall Europe.
The transaction has been approved by the European Commission.
IFM and Elia now own respectively a 40% and a 60% stake in the company, Elia having operational control of 50Hertz Transmission.
The acquisition fits in the strategy of Elia, that has been taking various steps in favor of the creation of a regional electricity market in Central Western Europe (Benelux, France and Germany), and of Industry Funds Management, which is broadening its portfolio of assets in the European infrastructure sector.
Elia and IFM said that they are committed to working together with 50Hertz to a sustainable regional network and electricity market. For Elia, IFM and Vattenfall, the transaction represents a major step to ensure the supply of their diverse customers with green energy mix.