High-Stakes Bid: Norway and Dutch Funds Target TenneT Stake

Norway's sovereign wealth fund and Dutch pension fund APG are planning a bid for a stake in power grid operator TenneT. The Dutch government will soon announce its decision on whether to sell or pursue a partial IPO. TenneT could raise up to 12 billion euros.

In a significant financial move, Norway's sovereign wealth fund is teaming up with the Dutch pension fund APG to bid for a stake in power grid operator TenneT.

The decision from the Dutch government, expected next month, will determine if a minority stake in TenneT's German operations will be sold or if a partial IPO is pursued.

With potential to raise up to 12 billion euros, this deal could become one of this year's largest in Europe, reflecting substantial investments needed for renewable energy transition.

(With inputs from agencies.)