1 Min Read
PARIS, Dec 14 (Reuters) - EDF's board has approved the partial sale of the French state-controlled utility's high-voltage power grid to state bank Caisse des Depots, a source familiar with the situation said on Wednesday.
"The partial sale of RTE has been approved by a majority of the board," the source said.
EDF declined to comment.
In July, EDF had entered exclusive talks with state-owned bank Caisse des Depots and its unit CNP Assurances to sell them a 49.9 percent stake in power grid unit RTE on the basis of an indicative value of 8.45 billion euros ($9 billion)for 100 percent of RTE's equity.
The deal is set to close in the first half of 2017.
$1 = 0.9403 euros Reporting by Geert De Clercq and Benjamin Mallet; Editing by Andrew Callus and Sudip Kar-Gupta