Argentinian investment fund Dolphin is set to acquire a 65% stake in local distribution company Edenor from Electricité de France (EdF), according to media reports.

Dolphin is to pay $100 million and take on some $550 million in debt under the terms of the deal, which will see EdF reduce its stake to just 25% for five years.

EdF has already disposed of the bulk of its Argentine assets and its stake in Edenor will be its only remaining asset. The transaction still requires regulatory approval.