First State Investments Buys Large Stake in MVV Energie
Posted on 04/04/2020
On April 2, 2020, First State Investments, an Australia-based infrastructure fund manager, signed a deal to buy a 45.1% stake in German regional utility MVV Energie for €753 million. First State Investments is a business unit of Mitsubishi UFJ Financial Group.
The stake sellers were EnBW and RheinEnergie, which sold the shares at €25.43 per share. Perella Weinberg assisted the sellers in the sales process. MVV Energie’s largest shareholder is the city of Mannheim, which holds a 50.1% stake in the company. 4.8% of MVV Energie’s are free float.