China’s State Grid pays US$ 2.8 billion for stake in Italy's CDP

China’s State Grid pays US$ 2.8 billion for stake in Italy's CDP

The State Grid Corporation of China (SGCC), the world's largest utility company by revenue and a state owned enterprise, bought a 35% stake in Italian energy grid unit Cassa Depositi e Prestiti (CDP) Reti for EUR 2.1billon (US$2.8billion), in one of the biggest investments in Italy by a Chinese company ever.

David Nealis President of Ceres Ltd

The stake in the deal will be sold to State Grid International Development Ltd (SGID), a wholly-owned subsidiary of SGCC. CDP Reti is wholly owned by CDP, a state holding company. SGCC invests, builds and operates a grid that covers over 88% of China's territory, serving over 1.1 billion people.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

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