China's State Grid buys 35% of CDP Reti

Chinese company to pay over 2.1 billion euros

(ANSA) - Rome, July 30 - 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.