Clifford Chance advised grid operator Stedin on the intended €500 million equity contribution from the Dutch State. The equity contribution will enable Stedin to invest in the expansion and reinforcement of the electricity grid. The Dutch State will become a new shareholder of Stedin, strengthening its equity by €500 million. The Dutch State will hold an 11.9% shareholding in the grid operator.
Original Press Release:
Sept. 14 -- Clifford Chance issued the following news release:
International law firm Clifford Chance has advised grid operator Stedin in relation to the intended €500 million equity contribution from the Dutch State, enabling Stedin to continue to invest in the expansion and reinforcement of the electricity grid, facilitating the energy transition.
Following negotiations between the Dutch State, Stedin and its shareholders over the last months, an agreement was reached on the Dutch State becoming a new shareholder of Stedin. As a result, the Dutch State will strengthen Stedin's equity by €500 million and will take an 11.9% shareholding in the grid operator. This makes the regional network company a new State participation. Read more about the equity contribution here(https://www.stedingroep.nl/eng/press-and-media/persberichten/the-dutch-government-and-shareholders-have-reached-an-agreement-on-an-equity-contribution-to-stedin).
The transaction is subject to approval by the Dutch States General and the current shareholders of Stedin.
The Clifford Chance team consisted of Mark-Jan Arends, Serkan Özel and Lauresse Anemaet.
Source: Clifford Chance
[Category: Law/ Legal Services, Professional Services, Energy, Funding Activities, Capital Investment, ESG]