CDP RETI is a subsidiary of CDP that holds 30% of SNAM Spa and 29.851% of TERNA Spa.
The sale involved 35% stake by SGEL for a total of €2.4bn ($3bn).
Cassa Nazionale di Previdenza e Assistenza Forense has acquired 2.6% for €140m while 33 banking foundations have acquired 3.3% for €173.5m.
CDP and SGEL and its parent company, State Grid International Development, have also entered into an agreement that grants SGEL corporate governance rights to protect its investment in the company.
Last July, a preliminary deal was signed by the Chinese company to acquire a 35% stake in CDP RETI, reports Reuters.
The sale forms part of CDP’s aim to raise funds for infrastructure projects.
State Grid Corporation of China selected Morgan Stanley as financial adviser for the sale.
