CDP Transfers Terna Stake to Energy Grid Unit

Posted by Eric Haun October 27, 2014

Italian state lender Cassa Depositi e Prestiti said on Monday it had transferred its 29.851 percent stake in power grid operator Terna to its CDP Reti unit.

CDP Reti, which is fully owned by CDP, also owns 30 percent of gas grid operator Snam.

Earlier this year CDP approved the sale of a 35 percent stake in its energy grid unit to China's State Grid Corp for no less than 2.1 billion euros.

(Reporting by Stephen Jewkes; editing by Oleg Vukmanovic)