May 6, 2020 / 1:39 PM / 21 days ago

Ardian wins Talanx as co-investor for stake in EWE

FRANKFURT (Reuters) - French private equity group Ardian has won German insurer Talanx (TLXGn.DE) as a co-investor for the purchase of a 26% stake in regional utility EWE [LANDWE.UL], Talanx said on Wednesday.

Talanx will contribute a triple-digit million euro amount to the purchase price, which sources previously said was around 1.4 billion euros ($1.51 billion).

“EWE and its business areas are an extremely good fit for our infrastructure investment activities,” Peter Brodehser, Head of Infrastructure Investments at Talanx, said.

“This investment¬†offers an excellent starting point for additional joint investments in energy and telecommunications infrastructure.”

Ardian, through its infrastructure arm, in December said it would buy the stake in EWE, marking the end of an M&A process that was started when EWE’s former anchor shareholder, German utility EnBW (EBKG.DE), decided to pull out four years ago.

Reporting by Christoph Steitz; editing by Thomas Seythal

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