Netherlands Said to Decide to Sell Stake in Tennet Germany (1)

The Dutch government has decided to sell a stake in the German unit of state-owned grid operator Tennet Holding BV through a private placement, people with knowledge of the matter said.

Finance Minister Eelco Heinen has decided that a private placement to bring new investors into Tennet’s German power grid is a better option than an initial public offering of the unit, the people said, asking not to be identified because the information is private.

A deal could give Tennet Germany an enterprise value equivalent to around 1.1 times its regulated asset base at the end of last year, which ...