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Ardian agrees to acquire 26% stake in German utility EWE

French asset manager Ardian has agreed to acquire a 26% stake in German regional utility EWE AG.

The transaction is subject to the approval of German Federal Cartel Office, which is expected in the first quarter of 2020, Ardian said in a Dec. 6 news release.

After Ardian acquires its interest, Weser-Ems Vertriebsgesellschaft mbH will own a 59% stake in EWE and Eisenbahnen und Verkehrsbetriebe Elbe-Weser Gmbh will own 15%.