Alpiq could raise up to CHF 900m from Swissgrid stake sale, sector specialist says
Alpiq, the listed, Swiss energy group, could raise up to CHF 900m from its 34.7% stake sale in Swiss national grid company, Swissgrid, Aargauer Zeitung reported.
The Swiss daily cited Vontobel energy sector specialist Dominik Meyer who said the stake could be worth between CHF 675m and CHF 900m.
Meyer said the stake will attract many buyers but the size of the transaction and ownership statues which only permit the company to be owned by industrial investors, thereby ruling out foreign state funds, means that the sale could take some time. A controlling majority also has to remain in Swiss hands, the report noted.
Another Swiss energy group, BKW, yesterday announced it is also examining the sale of its stake (12.6%), however, a third shareholder, Axpo, said it currently has no plans to sell and would await contact with other shareholders.
Source Aargauer Zeitung