Elia System Operator (Elia), the Belgian transmission system operator (TSO), and Industry Funds Management (IFM), one of the largest global infrastructure investment managers, announced on 12 March the signing of an agreement under which they will acquire the German regional transmission system operator 50Hertz Transmission GmbH (50Hertz) from Vattenfall Europe AG, Germany’s third largest electricity generator.

The agreed enterprise value is Euro 810 million and the parties expect to complete the transaction for 50Hertz in the second quarter of 2010.