Open Grid Europe's Majority Owners Consider Stake Sale Following Failed Divestment
The main owners of Open Grid Europe are exploring a sale of a significant stake in the German gas operator. British Columbia Investment Management Corp., Abu Dhabi Investment Authority, and Meag Munich Ergo Asset Management are involved in the potential divestment. Open Grid Europe operates Germany's largest gas grid and plans to repurpose its infrastructure for hydrogen. A previous stake sale to Italy's Snam SpA was terminated in November due to regulatory concerns. Deliberations on the current stake sale are ongoing.
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British Columbia Investment Management Corp., Abu Dhabi Investment Authority, and Meag Munich Ergo Asset Management are considering selling a significant stake in Open Grid Europe, which operates Germany's largest gas grid. BCI owns 32.2%, ADIA holds approximately 25%, and Meag has an 18.7% stake.
Previous efforts to sell a stake to Snam SpA were halted due to German regulatory concerns. The firm plans to repurpose part of its infrastructure for hydrogen. Ongoing discussions have no guaranteed outcome, and all parties involved declined to comment.
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