RWE has entered into a further agreement to acquire a 3% stake in investment company M31, which holds around three quarters of the shares in German transmission system operator Amprion. With this additional acquisition, RWE’s total pro rata share in Amprion will increase to around 58%, and RWE will also become the majority shareholder of M31.
RWE will continue to consolidate its stake in Amprion at equity. In accordance with statutory unbundling requirements, Amprion will remain an independent transmission system operator. Completion of the transaction is subject to standard conditions, including the necessary regulatory approvals. In mid-June, RWE announced that its total pro rata share in Amprion would increase to 55% through the acquisition of indirect interests; following approval by the German Federal Cartel Office, this transaction has now been completed.
The further increase in RWE’s stake underscores Amprion’s importance for RWE’s portfolio. The regulated grid business complements RWE’s existing investment priorities in renewables, battery storage and flexible generation. With its extra-high-voltage grid, Amprion plays a central role in the German energy system and makes an important contribution to security of supply and to the success of the energy transition.
Editor’s note on Amprion’s ownership structure
Amprion has two shareholders: M31 and RWE Alkaios. M31 is a consortium comprising RWE and German institutional financial investors and holds 74.9% of the shares in Amprion. RWE Alkaios, a joint venture between RWE and Apollo Global Management, holds the remaining 25.1%.