Snam to acquire a 24.99% stake in Open Grid Europe.

Snam, an Italian energy company, agreed to acquire a 24.99% stake in Open Grid Europe, an independent gas transmission operator. Financial terms were not disclosed. “Snam is the first-ever Italian energy player to make a sizeable entry into the German energy infrastructure space. The acquisition strengthens Snam’s position as Europe’s largest gas infrastructure operator and is fully aligned with the pan-European, multi-molecule infrastructure strategy outlined in the recent business plan,” Stefano Venier, Snam CEO.