The December 2016 binding sale agreement between EDF, the Caisse des Dépôts and CNP Assurances regarding the sale of a 49.9% indirect stake in EDF's fully-owned subsidiary, the power transmission grid operator RTE, was finalised at the end of March 2017. After the completion, EDF holds 50.1% in RTE while the Caisse des Dépôts and CNP Assurances hold 29.9% and 20%, respectively.
The sale has been approved by all relevant merger control authorities and in particular the European Commission. The transaction's final agreed value was set at €8.2bn for 100% of RTE equity. In the wake of the finalization, RTE indicated the appointment of 4 new members to its Supervisory Board.
EDF sold the stake in order to obtain a positive cash impact (€4bn) so that it can reduce its financial debt. The company has planned a divestment target of €10bn over the 2015-2020 period.