Germany is on the verge of announcing a deal to buy Tennet from the Dutch state. The price for the system operator, which is the largest not only in the Netherlands but also in Germany, will be just over EUR 22 billion, equivalent to DKK 165 billion.

This is according to Bloomberg News with reference to people with knowledge of the matter.

The government is in advanced negotiations on the terms of the potential purchase and, according to the sources, may announce a deal as early as Friday.

Already in February, Tennet announced exploratory talks to divest its German assets to the German state. The transaction has been subject to several delays as both governments have been negotiating the price; according to the company’s own calculations, the German part of the company has a value of around €15 billion, while the Dutch part is estimated at around €10 billion.

But Germany is trying to reach the long-awaited deal just weeks before the Dutch parliamentary elections scheduled for November 22.

If the German state ends up taking over the entire company, the Dutch part may be sold again afterwards.