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Investor group plans to sell remaining interest in German grid company to Elia

Belgian transmission system operator Elia System Operator SA was notified of Australia-headquartered pension fund manager IFM Investors Pty. Ltd.'s plans to sell the remaining 20% ownership interest it holds in Eurogrid International CVBA/SCRL, the holding company of German transmission system operator 50Hertz Transmission GmbH.

On April 26, Elia Group acquired an additional 20% stake in Eurogrid, increasing its holdings to 80% from 60% and taking full control of 50Hertz.

Elia Group may exercise its pre-emption right within two months, it said in a May 28 news release.