NautaDutilh advises the Dutch State in connection with the sale of an approximate 25.1% stake in TenneT's German electricity transmission operations to the German State for EUR 3.3 billion. Following completion of this transaction, TenneT Holding B.V. retains approximately 28.9% of TenneT Germany, preserving important veto rights on key decisions and maintaining the synergy benefits between the Dutch and German operations. Closing is conditional upon obtaining the necessary regulatory approvals.
The NautaDutilh team was led by Stefan Wissing and Lisa Schoenmakers.
TenneT Germany is one of the four major transmission system operators (TSOs) in Germany. Its operations form a critical part of the country’s energy infrastructure and the broader European energy transition. The energy transition requires large investments in its grid and the German government will as a new shareholder also contribute to its investment agenda. As such, the transaction provides further certainty for TenneT Germany's capital requirements and support for the European energy transition.
NautaDutilh worked closely with Gleiss Lutz (German legal counsel) and Rothschild & Co (financial adviser to the Dutch State).
See here for more information about the landmark transaction in 2025.
