February 27, 2018 / 12:24 PM / 20 days ago

RWE has no plans to sell stake in power network Amprion

DUESSELDORF (Reuters) - RWE (RWEG.DE) has no plans to sell its 25.1 percent stake in German high-voltage power transmission network Amprion, a spokeswoman for the utility said.

RWE logo in Essen, Germany, March 14, 2017. Reuters/Thilo Schmuelgen

“Our stake in Amprion is not for sale. We are very satisfied with the participation,” the spokeswoman said.

State Grid Corporation of China (SGCC) [STGRD.UL], the world’s largest utility, is currently in talks to buy 20 percent in 50Hertz, another transmission network, with one source saying the group could set its sights on Amprion if talks collapse.

The remaining 74.9 percent of Amprion are owned by M31 Beteiligungsgesellschaft mbH & Co Energie KG, which includes insurers Swiss Life (SLHN.S) and Talanx (TLXGn.DE) as well as MEA Munich Ergo, a unit of reinsurer Munich Re (MUVGn.DE).

    Germany has four high-voltage power transport lines: Amprion, Tennet IPO-TTH.AS, 50Hertz — which is co-owned by Belgium’s Elia (ELI.BR) and Australia’s IFM Investors — and EnBW-owned (EBKG.DE) Transnet BW.

    Reporting by Tom Kaeckenhoff, writing by Christoph Steitz; Editing by Catherine Evans

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