OREANDA-NEWS. On 27th November 2014, State Grid Corporation of China ("SGCC") completed the acquisition of a 35% stake in Cassa Depositi e Prestiti Reti ("CDP RETI") from Cassa depositi e prestiti Spa ("CDP"). Ms. CHEN Yueming, Executive Vice President of SGCC, and Mr. Franco Bassanini, Chairman of CDP, attended the closing ceremony.

CDP RETI holds a 29.85% stake in Terna S.p.A. - Rete Elettrica Nazionale ("TERNA") and a 30% stake in Snam S.p.A. ("SNAM"), both of which are publicly listed companies in Milan, Italy.

Investment into CDP RETI is the largest single overseas investment ever made by SGCC, it is also the largest single investment ever made by Chinese companies in Italy. SGCC will closely work with CDP by leveraging its advantages in terms of technology, capital resources and management etc., to further promote the steady development and strengthen the overall competitive advantages of CDP RETI and its affiliates, TERNA and SNAM, as well as create value for the target company and Italian social and economic development.