EDF-owned French grid operator valued at $5.8bn

EDF’s plans to sell almost 50 per cent of its RTE unit would value the operator of Europe’s biggest high-voltage electricity transmission grid at more than $5.78bn (EUR5.2bn).

Reuters reports that French-state owned EDF’s valuation is part of its sale strategy as it looks to offload non-core assets and reduce debt as well as finance its nuclear power goals.
RTE
Under a 2004 law, RTE’s capital must be held by EDF or other public entities, which means EDF can only sell to state-owned investors such as CDC.

While EDF is keen to press ahead with the sale as they think there would be a lot of appetite from infrastructure funds, the government would prefer to first take CDC on board as an investor as a quick way to raise cash while avoiding confrontations with unions, a source told the news agency.

The parties are expected to decide on the issue by the end of July.

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