Electricité de France is reported to have hired the French arm of the Rothschild banking dynasty to sell its private equity business in a deal understood to have attracted about ten bidders.

The French power company is selling off its non-core businesses through La Compagnie Financière Edmond de Rothschild Banque to slash debt levels by €5bn ($6.4bn) before the end of 2007, according to French newspaper Les Echos.