In an attempt to improve its balance sheet as it prepares to invest in its nuclear power business, EDF has agreed to sell 49 per cent of grid unit RTE to CDC-Le Monde.

The French state-controlled utility EDF has agreed to sell the stake in its high voltage power grid unit business according Le Monde, with the plan officially presented to the board today.
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The price on which EDF and CDC have agreed is not known but it corresponds to a value of around $7bn (6- 7 billion euros), the newspaper reported, although EDF did not comment.

Reuters reports that the sale could be part of a 10 billion euro asset sale plan with which EDF hopes to shore up its balance sheet and raise funds to invest in nuclear plants in France and Britain.

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