(Reuters) – EnBW has sold a minority stake of 24.95% in the transmission system operator TransnetBW to a consortium of banks, the German utility said on Friday, without disclosing financial details.
The buyer Suedwest Konsortium Holding GmbH is led by the SV Sparkassen Versicherung and includes over 30 banks, insurance firms and companies in the German state of Baden-Wuerttemberg, the firm said.
Earlier the Handelsblatt daily had reported the sale price amounted to around 1 billion euros ($1.10 billion).
EnBW said it expects the deal to be approved by regulatory bodies during the third quarter of the current year.
($1 = 0.9084 euros)
(Reporting by Christoph Steitz, writing by Linda Pasquini; editing by Matthias Williams)
