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Announced

Snam to acquire a $49.9% stake in TTPC and TMPC gas pipelines from Eni for $434m.

Financials

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Transaction Value£325m
Consideration TypeCash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Integrated Oil and Gas

Acquisition

gas pipelines

Italy

Domestic

Private

Majority

Pending

Friendly

Single Bidder

Synopsis

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Snam, an energy infrastructure operator, agreed to acquire a $49.9% stake in TTPC and TMPC gas pipelines from Eni, an energy company, for $434m. "This transaction allows us to free up new resources to be used on our energy transition path, while at the same time maintaining the management of a strategic infrastructure with Snam to ensure the security of natural gas supply to the country. Gas will play a key role in the transition of energy systems to zero-emission models, and it is important to maintain the availability and diversification of supply routes for this resource," Claudio Descalzi, Eni CEO.

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