The board of Italian State lender,
Cassa Depositi e Prestiti (CDP), on Wednesday approved the sale
of a 35% stake in Italian energy-grid holding company CDP Reti
to China's State Grid Corp, a CDP statement said.
The CDP currently owns all of CDP Reti, which has a
controlling stake of 30% in gas grid Snam.
As a part of the operation, CDP Reti will also receive a
controlling stake of almost 30% in power grid company Terna,
which is 100% owned by CDP at the moment.
China's State Grid Corp will pay a sum of not less than
2.101 billion euros for the stake in CDP Reti, the statement
said.
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