First state to buy MVV stake from EnBW, Rheinenergie - sources

MVV Energie AG

25/03/2020 08:20

FRANKFURT, March 25 (Reuters) - Infrastructure investor
First State has agreed to buy a 45% stake in German utility MVV
 MVVGn.DE  stake from EnBW  EBKG.DE  and Rheinenergie, people
close to the matter said. 
    MVV said in a statement on Wednesday that an agreement in
principle on the sale of the shares held by EnBW and
Rheinenergie, which have a market value of 750 million euros,
has been reached.   
    First State had no immediate comment.
    EnBW and Rheinenergie in October decided to sell their MVV
holdings, while the city of Mannheim, which owns 50.1% is
keeping its stake.  urn:newsml:reuters.com:*:nL5N26V47X
    First State prevailed over rival bidders including Swiss
Life  SLHN.S  and PGGM, the sources said.

 (Reporting by Arno Schuetze; editing by Scot W. Stevenson)
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters
Messaging: arno.schuetze.reuters.com@reuters.net))