Singapore sovereign fund GIC has expressed interest in buying a stake in Tennet’s German unit as part of a potential private placement, alongside the Norwegian wealth fund and Dutch pension manager APG, according to the people. Meanwhile, Apollo has been holding talks with Tennet about possibly providing as much as €4 billion ($6.02 billion) of capital to the German unit at the time of either a private placement or IPO, the people said.
Tennet Holding BV’s German business is attracting interest from potential investors including GIC Pte and Apollo Global Management Inc., as the Dutch government nears a decision on what to do with the unit of the state-owned grid operator, people with knowledge of the matter said.
Dutch Finance Minister Eelco Heinen is set to review options during the next couple weeks for Tennet Germany, the people said. Government officials and advisers have recently been holding talks with investors to gauge their interest in participating in either a private placement or an initial public offering for the unit, the people said. They’re seeking to get a more concrete sense of interest after the government decided in July to postpone a decision on which path to take.
