A PYMNTS Company

France: New gas initiatives expand into country as Italian giant makes new purchase

By  |  March 13, 2013

Italy’s largest natural gas conglomerate Snam SpA now plans to finalize its acquisition of a major stake in Total SA after the European Commission cleared the deal. Total began hearing offers to sell its gas network in southwestern France. The network will go to Snam as well as Electricite de France SA and Government of Singapore Investment Corp. The sale totals $3.1 billion, and Snam will receive 45 percent share in the company. Snam announced plans to expand business throughout Europe through various acquisitions, though has not announced specifics as of yet.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.