By Bart H. Meijer

THE HAGUE (Reuters) -The Dutch government is selling a 46% stake in power grid operator TenneT’s German unit to a consortium of investors for up to 9.5 billion euros ($11.3 billion), it said on Wednesday, kicking off the separation from a business it has been trying to divest for years.

The sale to a consortium of Dutch pension fund manager APG, Norges Bank and Singapore’s sovereign wealth fund GIC comes as funding requirements for power lines soar across the continent, forcing owners of such assets to seek fresh capital elsewhere.

It follows an unsuccessful attempt to sell TenneT Germany to Berlin last year.

Under the agreement, the consortium will take a stake of 46% in TenneT Germany via a private placement of new shares issued by the Dutch government.

With more t

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